Venezuela's Maduro tours Middle East boosting oil output cap deal

Venezuelan President Nicolas Maduro was cited on Saturday as saying that OPEC and non-OPEC nations were "very close" to an agreement on oil production curbs, Azerbaijan's state news agency Azertag reported. "Today with (Azeri) President Ilham Aliyev we talked about reaching agreements between OPEC and countries that are not members of the cartel. We are very close to reaching agreements and signing a relevant deal," Azertag quoted Maduro as saying in Baku, Azerbaijan's capital city. "I believe that the relevant agreement will be reached within a very short time and we will announce it. This will pave the way for a new era of stability and investment, stable output and a new oil price formula," he said. More…