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Caribbean-Latin America
Venezuela's Maduro in OPEC kingpin Saudi for talks - "Please Please Please"
2015-01-11

Venezuelan President Nicolas Maduro was in OPEC's leading oil producer Saudi Arabia for talks Sunday, officials said, after he visited Iran to discuss the impact of plummeting crude prices.

Venezuela has said it is willing to cut production to support prices but OPEC decided in November to maintain an output ceiling of 30 million barrels per day.

The decision intensified the price slide that began in the middle of the year, blamed on softer growth in demand and a stronger United States dollar as well as oversupply.

Iran's President Hassan Rouhani, his oil minister and other top officials have criticised Saudi Arabia for not backing steps to bolster prices.
"you're killing us here"
During his meeting with Maduro on Saturday, Rouhani again appeared to single out Riyadh, in remarks carried on the Iranian government's website.
"thank you, Captain Obvious"
"Without doubt, cooperation of countries that are on the same line in OPEC can neutralise the plans of some powers who are against OPEC, stabilising a reasonable price for oil in 2015," Rouhani said.
"about $150/bbl should do it!"
According to the official remarks, Maduro echoed Rouhani, "calling for the cooperation of oil exporting countries to bring back stability."
We got nuthin else!
Posted by:Frank G

#8  Home that is, Stage Hard Left.
Posted by: Shipman   2015-01-11 20:34  

#7  AP he didn't forget a new loan, it was all blather about previous Chineese investments. If Maduro had gotten even 5 billion he would have cut the trip short and took his loaner Cubana Air straight hope and commene to cut the pie.
Posted by: Shipman   2015-01-11 20:34  

#6  Mike K., that's cold right there, cruel even. Oh yeah, it's as funny as hell. LOL!!!
Posted by: AlanC   2015-01-11 19:56  

#5  Meanwhile, back on Baltic Avenue, Maduro has mortgaged his hotel. All kidding aside, Maduro got a loan of desperation from his Chinese benefactors, in turn for managing his oil industry and the Chinese getting 600K bbl/day of low cost oil. BUT WAIT, there's more! 200K bbl/day goes to servicing the debt.

China cares about Maduro's plight as much as they care about Fat Boy's feudal kingdom. And the Saudis don't want to bankroll a loser, so.....he's on his own.
Posted by: Alaska Paul   2015-01-11 19:09  

#4  I expect that Obama has asked the Saudis to undercut our oil industry.
Posted by: Super Hose   2015-01-11 17:52  

#3  ...What's cute is that Maduro thinks the Saudis give a rat's behind about him. The fact that he's even IN the Magic Kingdom should tell you just how bad it is right now in the Workers Paradise.

"So sorry, Nicolas, but thanks for playing, and as a parting gift here's a case of Rice-a-Roni, the San Francisco treat!!!"

Mike
Posted by: Mike Kozlowski   2015-01-11 17:08  

#2  but they have the loyalty of the block captains...til they start starving too
Posted by: Frank G   2015-01-11 15:32  

#1  tfsm on his mom's comp here.... it occurs to me that if Maduro and Yugo before him hadn't dismantled the Venezuelan oil industry they'd be able to threaten to increase production themselves.

And if wishes were horses...

Posted by: Slomomp Hupumble5879   2015-01-11 14:35  

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