Finance

Saudi, Venezuela talk of OPEC, non-OPEC cooperation to stabilize oil market: SPA

A fuel pump assistant stands next to an old fuel pump during the early hours near the village of Salwa at the Qatari-Saudi border, south of the eastern provience of Khobar, Saudi Arabia January 29, 2016. REUTERS/Hamad I Mohammed Thomson ReutersA fuel pump assistant stands next to an old fuel pump during the early hours near the village of Salwa at the Qatari-Saudi border, south of the eastern provience of Khobar

DUBAI (Reuters) – Saudi Arabia’s oil minister Ali al-Naimi discussed cooperation between OPEC members and other oil producers to stabilize the global oil market with his Venezuelan counterpart on Sunday, state news agency SPA reported on Sunday.

Venezuela’s Oil Minister Eulogio Del Pino is on a tour of oil producers to lobby for action to prop up prices.

“It was a successful meeting and (conducted) in a positive atmosphere,” SPA cited Naimi as saying.

Both minister discussed the outcome of del Pino’s meetings with other officials focused on “the cooperation of those countries to stabilize the international oil market,” and the importance of the continuation of such consultations, SPA added.

(Reporting by Rania El Gamal)

Read the original article on Reuters. Copyright 2016. Follow Reuters on Twitter.

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