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Venezuelan president, OPEC secretary meet over oil market cooperation

Xinhua, January 17, 2017 Adjust font size:

Venezuelan President Nicolas Maduro on Monday met with visiting Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Mohammed Barkindo to discuss global oil market.

"I am very pleased that we are ... ready to defend the historic agreement reached in November. There is much left to be done to continue to strengthen OPEC and its new alliances," said Maduro.

OPEC members and other oil producers agreed at a Nov. 30 meeting to reduce production by 1.2 million barrels of crude per day. Non-OPEC Russia has reduced output by 300,000 barrels.

Barkindo thanked Maduro for his efforts to secure the key agreement.

"Today I want to thank you for all you have done for us in achieving the agreements made possible in 2016," said Barkindo.

Maduro on Sunday said he will be proposing further steps to bolster crude prices and stabilize the global energy market, and called for a meeting of oil producers in the first quarter of 2017. Endi