Venezuelan Oil Minister Asdrubal
Chavez arrived in Tehran on Monday for talks with Iranian Oil Minister Bijan
Zanganeh and other ministry officials on oil price crisis. In last OPEC meeting
on 27 November, Venezuela pushed hard to curb output to stop the decline in
prices, but OPEC decided to maintain current production ceilings.
Low oil prices have
particularly hit Venezuela hard, with the country on the brink of financial default.
Meantime, Brent crude
prices hit five-year low on Monday. Today, Brent futures rebounded a bit, but still
trading at $66.44 a barrel for January delivery.
Photo credit: Iranian Oil Minister Bijan Zanganeh (r.) greeting his Venezuelan counterpart, Asdrubal Chavez; Tehran, 8 December 2014 (FNA)
Photo credit: Iranian Oil Minister Bijan Zanganeh (r.) greeting his Venezuelan counterpart, Asdrubal Chavez; Tehran, 8 December 2014 (FNA)
Asdrubal Chavez's main qualification as oil minister was being born a cousin of Hugo.
ReplyDeletegovernments were connections count more than expertise don't long prove effective.