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Venezuela warns of oil drop to $ 20

16:05, Tuesday, 27 September, 2016
Venezuela warns of oil drop to $ 20

Venezuela, along with Saudi Arabia and Iran are trying to avoid price crash.
     World oil prices could fall below $ 20 per barrel if the representatives of the largest oil-producing countries at the meeting in Algeria will not be able to agree on coordinating their actions in the oil market. This was stated by Minister of oil and mining of Venezuela, Eulochio del Pino, reports RBC.
     "We are in constant contact with Saudi Arabia and Iran, trying to avoid a pricing disaster. If we do not reach agreement, then we will be involved in a price war in which prices may crash below $20 per barrel," said del Pino
     As told a source in the Ministry of energy, meeting all major oil producers will take place in Algeria on September 28 if September 26 the members of the cartel will come to an internal compromise on the issue of freezing. However, the probability that between OPEC members agree: Saudi Arabia and Iran are still unable to reach agreement.

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