Top officials from major oil producers
Venezuela and Saudi Arabia held a rare bilateral meeting Wednesday as OPEC
member countries grapple with a continuing price slump. Venezuelan Foreign
Minister Rafael Ramirez, who until recently was head of state energy giant
Petróleos de Venezuela, or PdVSA, and is the country’s OPEC representative—and
Saudi Oil Minister Ali al-Naimi usually meet at scheduled gatherings. But the
two convened on the sidelines of a climate conference on the Venezuelan resort
island of Margarita in a sign of the pressure building up on the Organization
of the Petroleum Exporting Countries amid crude oil’s price drop of more than
25% since the summer. More… 
Thursday, November 6, 2014
Saudi, Venezuelan Oil Officials Meet as Price Slump Continues
Top officials from major oil producers
Venezuela and Saudi Arabia held a rare bilateral meeting Wednesday as OPEC
member countries grapple with a continuing price slump. Venezuelan Foreign
Minister Rafael Ramirez, who until recently was head of state energy giant
Petróleos de Venezuela, or PdVSA, and is the country’s OPEC representative—and
Saudi Oil Minister Ali al-Naimi usually meet at scheduled gatherings. But the
two convened on the sidelines of a climate conference on the Venezuelan resort
island of Margarita in a sign of the pressure building up on the Organization
of the Petroleum Exporting Countries amid crude oil’s price drop of more than
25% since the summer. More… 
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