Venezuela has begun negotiations with OPEC and Russia on price stabilization on oil

The president of Venezuela Nicolás Maduro has declared that Caracas has already begun consultations with Russia and a number of the countries of OPEC on stabilization of the oil prices, Reuters with reference to the state television of Venezuela reports.

"I spoke with the king of Saudi Arabia Salman ibn Abdul-Aziz Al Saod today, in the next few hours I will talk to the emir of Qatar Hamad bin Khalifa of Al Tanya. Also I have sent the message to the president of Russia Vladimir Putin. Besides, I am going to speak with the president of Iran Hassan Rouhani, I am in contact with the president of Ecuador Rafael Correa, with members of OPEC and the countries which are not entering into it" — Maduro has reported.

"The oil price can and shall reach $70 for barrel, it will become the engine of global economic growth. We are on the way to necessary stabilization" — quotes the Venezuelan leader Globovision TV channel.

I have declared that Venezuela is going to organize new negotiations on price stabilization on Maduro's oil on August 5. Now Venezuela has serious financial problems against low world oil prices.

The negotiations on oil extraction freezing which have taken place in Doha on April 17 have come to the end fruitlessly. Participants of a meeting could not come to the agreement, in particular because of disagreements in OPEC.

At the scheduled meeting of the countries of OPEC in Vienna which has taken place on June 2 organization members also could not approve a new ceiling on level of production of oil.