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Venezuelan minister says Russia "seriously considering" joining OPEC

Source: BBC Monitoring Americas - Economic Publication date: 2000-09-19

Text of report by VENews web site on 18th September

Monday 18th September 2000: Venezuela's Deputy Foreign Minister (MRE) Jorge Valero says that Russia is "seriously considering joining" the Organization of Petroleum Exporting Countries (OPEC) following discussions between Russian Federation President Vladimir Putin and President Hugo Chavez Frias at the UN millennium summit in New York - "the Russian government is seriously studying the possibility of becoming a member of OPEC".

No details of the Venezuela/Russia talks have been released but non-OPEC producers Russia, Angola, Mexico, Norway and Oman have been invited to attend the second OPEC heads of state summit in Caracas at the end of this month - Russia sending its Energy Minister Alexander Gavrin.

The Venezuelan government is determined to use the OPEC forum to stabilize long-term oil prices in the face of wild speculation on the international petroleum markets and exaggerated industrialized countries' end-user fuel taxes which have recently driven world crude prices to all time highs.

Publication date: 2000-09-19

-- Carl Jenkins (, September 19, 2000

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