Maduro: economic recovery after the pandemic depends on OPEC and its allies

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CARACAS (Sputnik) – The recovery of the global economy depends on a possible agreement between the countries of the Organization of Petroleum Exporting Countries and its allies (OPEC +), said Venezuelan President Nicolás Maduro.

“The post-pandemic economic and financial recovery will depend on the OPEC + agreement, which will give stability to the market, will give them stability at fair prices and will allow the planning of market exchanges, of the real economy,” said the head of state in chain radio and television.

The Venezuelan president offered these statements after holding a meeting with the Russian ambassador, Sergey Mélik-Bagdasárov, who recently arrived in the country and on Monday 30th gave him credentials.
During the meeting, Maduro insisted on the need for dialogue to resume between the OPEC countries and their allies.

“I asked him about the need to resume the dialogues within the framework of OPEC + to advance towards objective, compliant agreements for the gradual, progressive, but sustained recovery of the oil market and the price of oil, I told him that from 2016 to 2020, it was shown that OPEC +, and other producers, were the basis of price market stability and the financial and economic stability of the world, it is a gigantic truth, “he said.

Last February, OPEC member countries held a meeting, in which Russia refused to accept the proposal to cut production presented by Saudi Arabia, which caused the price collapse, as the plan was not renewed. It has been developed since 2016, with the objective of reducing the oil oversupply.
In recent weeks, after the lack of agreement and in the midst of COVID-19 pandemic, the price of crude oil fell below $ 22.
President Maduro assured that his nation’s oil basket is below even the cost of production, this situation further affects the economic situation of the Caribbean nation.

During his speech, the president also appreciated the sending of technical support and humanitarian aid from China, Cuba, and Russia to deal with the pandemic.

In addition, he indicated that he had a conversation with the President of Argentina, Alberto Fernández, with whom he exchanged opinions on preventive measures to prevent the spread of COVID-19 and treatments, as well as the effects on the economy.

Similarly, Maduro thanked his intervention before the Group of 20, so that the sanctions against Venezuela and Cuba are lifted in the face of the pandemic.
As for the situation in his country, Maduro indicated that justice will not stop and warned in the coming days that the security forces will be knocking on the door of those who are trying to destabilize the country.
In late 2019, China reported a pneumonia outbreak in Wuhan City, the capital of southeast Hubei province, caused by a new strain of coronavirus.

In the world were registered 693,224 confirmed cases and 33,106 deaths product of the virus, according to the latest report from the World Health Organization (WHO).

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