Venezuelan and Russia discuss joint action on oil prices

Venezuelan Oil Minister Eulogio Del Pino and Russian Energy Minister Alexander Novak have discussed coordinating action on the global oil markets, Russia’s Energy Ministry said in a statement.
Del Pino was visiting Moscow on Tuesday for talks with Novak and a source said he had also met Igor Sechin, the chief executive of top Russian oil producer Rosneft.
“The main topic of the talks (with Novak) was coordination of joint action on the oil market,” the ministry said.
“The sides have discussed ... participation of OPEC and independent oil producers in an agreement on limiting production, various options of which are currently being worked through,” it said.

Baghdad talks

In Baghdad, Iraqi Oil Minister Jabar Al-Luaibi told a top OPEC official of its hope that the group could reach a deal to lift oil prices while preserving its own output level.
The minister and OPEC Secretary General Mohammed Barkindo met in Baghdad ahead of the cartel’s meeting on Nov. 30.
“The minister expressed support for the efforts of the secretary general ... and optimism that the meeting would lead to decisions in favor of crude producers,” said Oil Ministry spokesman.
Luaibi, he said, also briefed Barkindo about Iraq’s “real production” figures, which are higher than those estimated by so-called secondary sources adopted by OPEC.

Source: Arab News