CARACAS Oct 19 Venezuelan President Nicolas
Maduro will visit OPEC and non-OPEC countries in coming days to
push a deal to stabilize oil markets and will also travel to key
financier China, as the cash-strapped nation seeks to ease a
OPEC agreed in Algiers on Sept. 28 to reduce production to a
range of 32.5 million to 33.0 million barrels per day, which
would be its first output cut since 2008. Another meeting on
Nov. 30 is set to firm up details of the accord.
"I'm going to make a lightning visit, lightning but also
deep, to several oil-producing countries, OPEC and non-OPEC, to
bring a proposal and finally close an agreement between OPEC and
non-OPEC countries to stabilize the oil market and allow prices
to bounce back in a stable way," Maduro said late on Tuesday
night during his scheduled weekly televised broadcast.
Maduro did not name the oil-producing countries he planned
Price hawk Venezuela has been upbeat about the chances of
non-OPEC countries, including Russia, joining in on freezing
supplies alongside the Organization of the Petroleum Exporting
"(Russian) President (Vladmir) Putin has been very clear: He
agrees with the strategy of freezing oil production at this
year's average and even, if necessary, making cuts," added
Maduro, a socialist who was elected to replace the late Hugo
Chavez three years ago.
Venezuela, which has the world's largest oil reserves, has
seen its crude output tumble this year amid a cash crunch.
Spiraling inflation has also dented its workers' living
Maduro said he would also visit crucial ally China, which
has lent some $50 billion to Venezuela in an oil-for-loans
arrangement over the last decade.
Financial markets are watching to see if Beijing will help
Maduro's unpopular government as it struggles with reduced oil
revenue and protests over widespread shortages of medicine and
(Reporting by Alexandra Ulmer; Editing by W Simon)