CARACAS, Sept 29 Venezuelan President Nicolas
Maduro said on Thursday he expects non-OPEC oil-producing
countries, like Russia, to support OPEC's efforts to boost oil
prices by reducing crude output.
The Organization of the Petroleum Exporting Countries (OPEC)
on Wednesday agreed to slightly reduce production for the first
time since 2008 amid mounting pressure from low oil
"This agreement should be consolidated in the coming days,"
Maduro said in comments broadcast on state television.
"I am very optimistic that major non-OPEC producing
countries, such as the Russian Federation, will also take part
in this joint effort of OPEC countries."
Venezuela has insisted for months that major oil producers
should reach a consensus to freeze production levels to counter
Maduro said he is convinced that there will be "a stable oil
market" if OPEC and non-OPEC countries pledge to cut production.
Venezuela, which gets nearly all of its foreign exchange
from oil exports, is facing triple-digit inflation and chronic
product shortages as a result of low oil prices and a decaying
Maduro says his government is the victim of an "economic
war" led by opposition businessmen with the support of
(Reporting by Corina Pons, writing by Brian Ellsworth; Editing
by Simon Cameron-Moore)