{"id":17508,"date":"2016-02-08T15:22:47","date_gmt":"2016-02-08T20:22:47","guid":{"rendered":"http:\/\/olduvai.ca\/?p=17508"},"modified":"2016-02-08T15:27:44","modified_gmt":"2016-02-08T20:27:44","slug":"venezuela-fails-to-persuade-saudis-to-cut-oil-production","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=17508","title":{"rendered":"Venezuela fails to persuade Saudis to cut oil production"},"content":{"rendered":"
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Venezuela fails to persuade Saudis to cut oil production<\/a><\/h3>\n<\/div>\n<\/div>\n
Meeting called \u2018successful,\u2019 but no word of agreement to help boost prices<\/div>\n
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\"\"AFP\/Getty Images<\/cite><\/div>
Venezuela’s minister of petroleum and mining, Eulogio Del Pino, seen in December.\u00a0<\/figcaption><\/figure>\n
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DUBAI \u2014 Saudi oil minister Ali al-Naimi met with his Venezuelan counterpart on Sunday but didn\u2019t announce any plans for the production cut the South American country says is needed to prop up crude prices.<\/p>\n

Venezuela\u2019s Eulogio del Pino traveled to Riyadh this weekend as part of a tour of oil-producing countries both within and outside of the Organization of the Petroleum Exporting Countries, including Iran and nonmember Russia. Del Pino wants Saudi Arabia, the world\u2019s largest oil exporter, to come around to his call for an output reduction that could bring the world\u2019s vast supply of oil back in line with demand.<\/p>\n

Naimi called the meeting \u201csuccessful,\u201d with a \u201cpositive atmosphere,\u201d according to the state-run Saudi Press Agency. Del Pino, on his official Twitter page, said the meeting was productive and focused on cooperating to \u201cstabilize the international oil market.\u201d<\/p>\n

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OPEC and non-OPEC \u201ccountries must reach a consensus to bring stability to the global oil market,\u201d del Pino said on Twitter. But neither said there was an agreement to slash oil output. Neither mentioned del Pino\u2019s call for an emergency OPEC meeting to discuss such a cut, an idea Saudi Arabia has opposed.<\/div>\n<\/div>\n

An expanded version of this report appears on WSJ.com.<\/a><\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Venezuela fails to persuade Saudis to cut oil production Meeting called \u2018successful,\u2019 but no word of agreement to help boost prices AFP\/Getty ImagesVenezuela’s minister of petroleum and mining, Eulogio Del Pino, seen in December.\u00a0 DUBAI \u2014 Saudi oil minister Ali al-Naimi met with his Venezuelan counterpart on Sunday but didn\u2019t announce any plans for the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[2046,12270,12271,5220,600,1246,701,12269,851],"class_list":["post-17508","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-ali-al-naimi","tag-benoit-faucon","tag-eulogio-del-pino","tag-marketwatch","tag-opec","tag-riyadh","tag-saudi-arabia","tag-summer-said","tag-venezuela"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17508","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17508"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17508\/revisions"}],"predecessor-version":[{"id":17510,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17508\/revisions\/17510"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}