Putin discussed the situation in the oil market with President of Venezuela

Vladimir Putin

The presidents of Russia and Venezuela Vladimir Putin and Nicolas Maduro in a telephone conversation discussed the situation in the oil market, including in the context of the implementation of agreements on the adjustment of production volumes. On Thursday, may 18, the press service of the Kremlin.

The conversation was initiated by the Venezuelan side.

Maduro also informed the Russian President about the political situation in Venezuela and on the measures undertaken to resolve the crisis. Putin wished success to the counterpart in the efforts to normalize the situation in the country. The Russian leader stressed that problems should be resolved within the legal framework.

Recently in Venezuela, worsened the political crisis. Dissatisfied with the economic situation the country’s inhabitants take to the streets demanding the appointment of early elections. The victims of the riots were 38 people, and at least 750 injured.

Russia is a key party to the transaction to reduce production between OPEC and independent producers. In late may, the parties to the agreement will meet in Vienna and discuss the prospects for extending it. On 20 April the Minister of energy of Saudi Arabia Khalid al-falih said that oil producers have reached a preliminary agreement about the extension of the agreement to limit its production.