Delegations from Russia, Saudi Arabia,
Mexico and Venezuela have met for the first time in such a format for talks in
Vienna to discuss rapidly dropping oil prices. The group agreed to monitor
prices for a year. The energy ministers have not agreed upon cutting oil
production, as such agreements can only be reached during OPEC meetings, the
Venezuelan Foreign Minister Rafael Ramirez said following the talks held at the
Park Hyatt in Vienna on Tuesday. He
added that the group also believes the current oil prices are too low, and
named a fair price at $100 per barrel. More…
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