Venezuela prepared new proposals for oil market

Baku. 16 January. REPORT/ Venezuela will next week circulate a new proposal to crude producers in a bid to support oil prices. Report informs citing the RIA Novosti, President Nicolas Maduro said on Sunday, without providing details. "Venezuela, as of next week, will circulate a letter with a new proposal, a new formula for the stability of real and just prices so that it can be studied and debated by all the governments that have signed this deal," Maduro said in a speech.

Yesterday, on January 15, OPEC secretary general Mohammed Barkindo paid a visit to Venezuela.

Secretary General of OPEC will discuss the situation in the oil market during a meeting with the Venezuelan government. New proposals in oil market are likely to be discussed during the meeting.