Venezuela wants extra OPEC meeting to halt oil-price drop

[Zorro]

Source: AFP

Venezuela will ask for an emergency meeting of OPEC countries to try to halt sliding oil prices, Foreign Minister Rafael Ramirez said Friday.

A barrel of Venezuelan crude closed at $82.72 on Friday, a drop of $3.17 for the week, one of the lowest levels in the past three years.

"We are going to ask for an extraordinary OPEC meeting. We need to try to coordinate some sort of action to stop falling oil prices," Ramirez said at a Caracas news conference.

"I am convinced this is not due to market conditions, but is price manipulation to create economic problems for large oil-producing businesses," added Ramirez, who is the former oil minister and ex-head of the public oil company PDVSA.

Read more: http://news.yahoo.com/venezuela-wants-extra-opec-meeting-halt-oil-price-213001124.html

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What's good for consumers isn't so good for producers. It must be a conspiracy.

[7962]

1. Must be the CIA! Or the Jews! What an idiot.

There is increased production as well as ISIS selling oil for 40-60 bucks a barrel on the black market. The US is producing more than ever, etc. The price will move when demand picks up faster

[branford]

9. Damn those capitalist CIA Jews and the law of supply and demand . . . :P

Besides, I thought that Maduro already repealed the law of supply and demand under his emergency powers to fight the bourgeoisie seeking to profit on the scarcity of milk, bread and toilet paper in Venezuela.

[belzabubba333]

2. OH I SEE when it goes up it's market forces,supply and demand and all that but when it falls, well

now it's manipulation

[joshcryer]

3. Pay no attention...

...to the oil man behind the curtain.

[FLPanhandle]

4. I do not think Venezuela has any concept of the market.

The way they have managed their economy is proof of that.

[Nye Bevan]

13. 60% inflation, and people have to use newspaper to wipe their asses.

Non-capitalism in action.....

[Dreamer Tatum]

5. In other words, we don't want to unfuck our economy

we want to fuck with other economies.

Tough shit, Maduro.

[marble falls]

6. US oil companies love increases in the price of petroleum. They get to export. The US out pumps ...

Saudi.

[bluesbassman]

7. So they want to have a meeting to figure out how to manipulate the manipulation of oil prices.

This has got to be from The Onion.

[Tarheel_Dem]

8. I'd expect nothing less.

[freshwest]

10. And you'd be right, too!

[freshwest]

11. Well, price fixing is a conspiracy. Just depends on who is doing it.

OPEC started on the premise of getting a fair price, but over the years it cut prices when other nations began moving away from fossil fuels and toward green energy.

They complained about interference in their affairs and the oppression that corporations visited upon them in our names. But it was with the compliicity of their own oligarchs and their henchmen, too.

Their manuevers to keep the price of oil went from using the profit to take care of their own people, to making their oligarchs richer than Gawd. What they did since then was effective at one time to discourage the increase of alternative energy. But in time it became just the game of their oligarchs.

The world or Americans, anyway, since then has decided to not fall for that game again. We're not that stupid anymore.

They want our money more than we want their nasty oil. This will be freedom for us and they can decide what it means for them. Yet they want more of our so-called useless money. I say no deal with their oligarchs anymore. We have things to attend to here at home.



JMHO, and I have a right to have one, too.

[Nye Bevan]

12. Heh. Obama was positively cackling when he gave the order to reduce the global oil price

in order to stick it to the Venezuelans. Is there no limit to his evil?

[Tarheel_Dem]

14. +1

[Iamthetruth]

15. My heart is just needing for him