Middle East

Oil giants Venezuela, Qatar sign deals

The leaders of major oil producers Qatar and Venezuela signed cooperation agreements and promised to strengthen ties during a visit Wednesday by the ruler of the Gulf State to Caracas.

Venezuelan President Nicolas Maduro, who faces a challenge from the opposition in December legislative elections, hailed ties with Qatar in a meeting with Sheikh Tamim bin Hamad Al-Thani.

He gave no details of the agreements they would sign but said Qatar had been a "partner" of Venezuela "for many years in defense and oil and now too in gas."

"This visit and the agreements we are going to sign are a clear, firm step to progress towards close cooperation ties," Maduro said as he welcomed the emir to his presidential palace.

The two countries are members of OPEC, the grouping of most of the world's biggest oil producers.

Maduro has been trying to persuade fellow OPEC members to agree to a cut in oil production, since falling prices have hurt Venezuela's main source of outside income. But major producer Saudi Arabia has resisted.

Maduro said on Tuesday that there would soon be positive "surprises" that would boost oil prices, but he did not give details.

OPEC producers meet on December 4 in Vienna.

Related Articles

Back to top button