Wednesday 10 August 2016

Venezuela tries to rally support for oil producer meeting

Venezuela on Tuesday said it was trying to rally support for a meeting of oil producers to agree measures to prop up oil prices, the struggling Latin American country's biggest source of income.

Venezuela, a member of the Organisation of the Petroleum Exporting Countries (Opec), is suffering from an economic and political crisis and relies heavily on oil export revenues.

Its government has long called for oil producers to come up with measures to buoy oil prices.

President Nicolas Maduro said on Tuesday night on state television that he was in talks with several other oil exporters to organise a producer meeting.

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