November 27, 2014 / 9:36 AM / 5 years ago

Venezuela says shale oil is a disaster

VIENNA, Nov 27 (Reuters) - Shale oil is a disaster for climate change, Venezuelan Foreign Minister Rafael Ramirez said on Thursday as OPEC prepares to decide on oil output policy.

“The U.S. is producing in a very, very bad manner. The shale oil, I mean it is a disaster from the point of view of climate change...,” Ramirez told reporters.

Oil ministers from the Organization of the Petroleum Exporting Countries meet on Thursday in Vienna, with Venezuela trying to rally support for action to boost crude prices that have been hit by a supply glut.

Reporting by OPEC newsroom

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