Oil market begins to stabilize following Algiers agreement

APS : Saturday, 11 February 2017
ALGIERS- The oil market begins to stabilize following the Agreement signed in Algiers by the members of the Organization of the Petroleum Exporting Countries (OPEC),
said Saturday in Algiers Venezuela’s Minister of Foreign Relations Delcy Eloina Rodriguez Gomez.
“We see that the oil market is beginning to stabilize and this has naturally a link with OPEC historic agreement signed in Algiers,” said Venezuelan minister following her meeting with Minister of State, Minister of Foreign Affairs and International Cooperation Ramtane Lamamra, in the presence of the two countries’ energy ministers.
“For two years, we have accomplished a lot , which resulted in the Agreement of Algiers and that of Vienna too,” she added.
Rodriguez Gomez said the meeting with the Algerian party helped “make an assessment” of “what remains to be done” and ensured that “the oil exporting countries will pursue their coordination to reach final stabilization of the oil market.”
Dubbing “very fruitful” the meeting with Lamamra and Energy Minister Nouredine Boutarfa, Rodriguez Gomez said it wrapped up a series of meetings with the officials of various oil producing countries (Russia, Iraq, Iran, Kuwait, Oman, Saudi Arabia and Qatar).
“We are extremely pleased that Algiers is the last stopover of our trip because Algeria and Venezuela have strong relations,” he added.
Mentioning the South-South cooperation, the Venezuelan minister said that “many things remain to be accomplished to face the hegemonic forces,” calling for “working together for a multipolar and united world.”

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