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Venezuela issues at the G7 meeting

Tuesday, January 24, 2017

OPEC shrugs Trump's threat of America cutting oil imports

OPEC’s two biggest suppliers to the U.S. shrugged off a vow by President Donald Trump to end dependence on the group’s oil, saying the world’s biggest economy would continue to need crude from abroad. The U.S. is “closely integrated in the global energy market,” Saudi Arabia’s Energy and Industry Minister Khalid Al-Falih said, while his Venezuelan counterpart Nelson Martinez said he expects his country’s crude exports to the world’s top consumer to remain stable. “The positions that the U.S. and Saudi Arabia take in global energy are very important for global economic stability,” Al-Falih said at a meeting of producing countries in Vienna. He added that Saudi Arabia was looking forward to working with the Trump administration. More…

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