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Russia, Venezuela Discuss Stabilizing Oil Prices


FILE - Russian Energy Minister Alexander Novak arrives for gas talks between the European Union, Russia and Ukraine at the EU Commission headquarters in Brussels, Oct. 29, 2014.
FILE - Russian Energy Minister Alexander Novak arrives for gas talks between the European Union, Russia and Ukraine at the EU Commission headquarters in Brussels, Oct. 29, 2014.

Russia and Venezuela discussed joint action to combat falling oil prices, Russian Energy Minister Alexander Novak said on Tuesday after holding talks with Venezuela's Foreign Minister Rafael RamDirez the day before.

Asked if the two discussed joint moves to counteract the oil price falls, Novak told reporters: “Yes, there is such an initiative. We discussed this theme and now we are working out those proposals on our side.”

Novak said his next meeting with Venezuelan officials will take place on Nov.25 and expected a more detailed discussion on the matter then. He refused to give any more detail.

Previous overtures between OPEC and Russia have not produced results.

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    Reuters

    Reuters is a news agency founded in 1851 and owned by the Thomson Reuters Corporation based in Toronto, Canada. One of the world's largest wire services, it provides financial news as well as international coverage in over 16 languages to more than 1000 newspapers and 750 broadcasters around the globe.

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