Sunday, February 07, 2016

Saudi, Venezuela Meeting Ends With No Oil-Production Agreement

Saudi Arabia’s Ali al-Naimi calls meeting ‘successful,’ despite lack of agreement needed by Venezuela

DUBAI—Saudi oil minister Ali al-Naimi met with his Venezuelan counterpart on Sunday but didn’t announce any plans for the production cut the South American country says is needed to prop up crude prices.

Venezuela’s 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 .... http://www.wsj.com