- Title: Maduro eyes oil at $70 a barrel, says Trump cannot be worse than Obama
- Date: 17th January 2017
- Summary: CARACAS, VENEZUELA (JANUARY 16, 2017) (REUTERS) ***WARNING CONTAINS FLASH PHOTOGRAPHY*** VARIOUS OF VENEZUELAN PRESIDENT, NICOLAS MADURO, SHAKING HANDS WITH OPEC SECRETARY GENERAL, MOHAMMED BARKINDO MADURO AND BARKINDO VARIOUS OF MADURO MEETING WITH BARKINDO MADURO AND BARKINDO AT NEWS CONFERENCE BARKINDO SPEAKING TO MEDIA (SOUNDBITE) (English) OPEC SECRETARY GENERAL MOHAMMED BARKINDO, SAYING: "This is also historic because this is the first time you get OPEC and non-OPEC together to jointly monitor their production to ensure compliance to an agreement that is reached voluntarily." MORE OF MADURO WITH BARKINDO AT NEWS CONFERENCE PEOPLE AT NEWS CONFERENCE (SOUNDBITE) (Spanish) VENEZUELAN PRESIDENT, NICOLAS MADURO, SAYING: "I hope that in this semester Venezuelan petroleum will reach $60 dollars a barrel. I hope that this could stabilise at $70 for the rest of the year." VARIOUS OF MADURO AND BARKINDO SHAKING HANDS AFTER NEWS CONFERENCE MADURO GREETING OPEC OFFICIALS MEDIA MORE OF MADURO AT NEWS CONFERENCE (SOUNDBITE) (Spanish) VENEZUELAN PRESIDENT, NICOLAS MADURO, SAYING: "I say wait to see what happens with the internal policies of the United States as well as with international policies. Don't let's jump ahead of ourselves. I want to be prudent and say wait. He won't be worse than Obama." MORE OF PEOPLE AT NEWS CONFERENCE (SOUNDBITE) (Spanish) VENEZUELAN PRESIDENT NICOLAS MADURO, SAYING: "Venezuela has confirmed its historic desire, since Bolivar, to have a relationship that is respectful, communicative and cooperative with the United States of America." MORE OF MADURO AT NEWS CONFERENCE
- Embargoed: 31st January 2017 02:25
- Keywords: Venezuela OPEC Donald Trump United States oil Mohammed Barkindo
- Location: CARACAS, VENEZUELA
- City: CARACAS, VENEZUELA
- Country: Venezuela
- Topics: Commodities Markets,Economic Events
- Reuters ID: LVA0015ZC0E9V
- Aspect Ratio: 16:9
- Story Text:Venezuela's President Nicolas Maduro told media on Monday (January 16) that he hopes oil prices will stabilise at $70 U.S. dollars a barrel and said President-elect Donald Trump cannot be worse than outgoing President Barack Obama.
Maduro's comments came alongside a visit to Venezuela by OPEC Secretary General Mohammed Barkindo.
Recently the bloc of petroleum-producing nations and non-OPEC members voted on a cut in production to support a raise in global oil prices.
Barkindo said the vote was historic.
"This is also historic because this is the first time you get OPEC and non-OPEC together to jointly monitor their production to ensure compliance to an agreement that is reached voluntarily," he said.
Venezuela's economy has struggled under recent low oil prices amidst food shortages and reported three-digit inflation.
Maduro hopes a stabilisation of petroleum prices will eventually reach $70 dollars.
"I hope that in this semester Venezuelan petroleum will reach $60 dollars a barrel. I hope that this could stabilise at $70 for the rest of the year," declared Maduro.
Venezuela's government initially welcomed Obama's presidency but later soured on him, criticizing his "imperialist" foreign policy and accusing Washington of meddling to change governments in Brazil, Honduras and Paraguay.
On the campaign trail, the conservative Trump criticised Venezuela's ruling Socialists for oppressing their own people, but Maduro has refrained from firing back in his first public comments on the Republican's election win.
"I say wait to see what happens with the internal policies of the United States as well as with international policies. Don't let's jump ahead of ourselves. I want to be prudent and say wait. He won't be worse than Obama," said Maduro.
With just days ahead of Trump's inauguration, Maduro said he wants a relationship of respect and cooperation with the U.S.
"Venezuela has confirmed its historic desire, since Bolivar, to have a relationship that is respectful, communicative and cooperative with the United States of America," he added.
The United States has stepped up diplomatic efforts with Venezuela since 2014, when U.S. President Barack Obama put in motion a process of restoring relations with communist-run Cuba after more than 50 years of economic embargo. - Copyright Holder: REUTERS
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