Maduro calls for revolution to rid Venezuela of oil dependence

Venezuelan President Nicolas Maduro on Thursday called for an "economic and productive revolution" to rid the country of its dependence on oil revenues.

Maduro made the call at a celebration for the 185th anniversary of the death of Simon Bolivar at the National Pantheon.

"Today, we gather in front of the liberator (Bolivar) to make a commitment. This commitment must unite our national efforts so that we may together make a grand plan of recovery...for our country's economic development," he said.

The head of state referred to the decision by the U.S. Federal Reserve (Fed) to raise interest rates by 25 basis points to 0.25-0.50 percent, which triggered an immediate fall in oil prices.

"The decision of the Fed led...to oil prices dropping from 30 U.S. dollars to 28 in just one day," Maduro said, adding that he warned countries of the Organization of the Petroleum Exporting Countries (OPEC)of the issue at a summit on Dec. 4.

The president also said that his government would continue the social welfare programs, known as the Bolivarian missions, which guarantee health, education and shelter to Venezuelans. Endi