Venezuelan oil minister waves off OPEC meeting: official

Venezuela's Oil Minister Rafael Ramirez has decided not to attend an OPEC meeting in Vienna Wednesday, an official said, saying upcoming elections and other matters were keeping him at home.

The official denied that Ramirez's decision was related to the health of President Hugo Chavez, who is in Cuba for surgery after disclosing that his cancer has returned.

"He is not going," an official with the state-owned Petroleos de Venezuela, which Ramirez heads, told AFP. "He is busy with other matters in Caracas and besides there are regional elections on Sunday."

OPEC oil ministers were meeting Wednesday in Vienna to decide on the cartel's oil production ceiling.

Venezuela will be represented at the meeting by its OPEC governor, Bernard Mommer, the official said.

A founding member of OPEC, Venezuela sits atop the world's largest proven oil reserves and produces about three million barrels a day, according to the government, or 2.3 million barrels a day, by OPEC's count.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...

Explore Related Contents

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

    Market Data

    • Currencies
      Currencies
      NamePriceChange% Chg
      1.4199+0.0022+0.16%
      USDSGD=X
      1.5041-0.0004-0.03%
      EURSGD=X
      1.7696+0.0032+0.18%
      GBPSGD=X
      79.8180+0.054+0.07%
      SGDJPY=X
      5.4632-0.0082-0.15%
      SGDHKD=X
      3.1409-0.0027-0.09%
      SGDMYR=X
      9,433.5537-16.6973-0.18%
      SGDIDR=X
      4.8401-0.0086-0.18%
      SGDCNY=X
      1.0908+0.0013+0.12%
      AUDSGD=X
    • Commodities
      Commodities
      NamePriceChange% Chg
      1,236.20-5.40-0.43%
      GCJ17.CMX
      18.02-0.05-0.30%
      SIH17.CMX
      92.56-1.90-2.01%
      ^XAU
      2.75+0.03+1.16%
      HGH17.CMX
      53.98+0.23+0.43%
      CLJ17.NYM
    • Bonds
      Bonds
      TreasuryYield (%)Yield Change
      1.91-0.03
      ^FVX
      2.42-0.03
      ^TNX
      3.03-0.02
      ^TYX