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Venezuela Wants OPEC to Maintain Output in December

Bloomberg -- Venezuela wants the Organization of Petroleum Exporting Countries to maintain production when the group meets in December, Oil Minister Rafael Ramirez said.

“For this meeting, Venezuela prefers to be cautious,” Ramirez said today in an interview in El Tigre, Venezuela. “The level of OPEC production has to be maintained.”

OPEC member nations will meet in December in Angola to discuss output quotas. They agreed last December to cut output by a record 4.2 million barrels a day after oil prices sank 70 percent from a record $147.27 a barrel in July 2008.

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Submitted Oct 31, 2009 By: ziyulu

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smoketown Champion Author Cincinnati Posts:2,880 Points:597,260 Joined:Feb 2008	Message Posted: Oct 31, 2009 12:17:17 PM Ignore smoketown Report Abuse Go HYDROGEN, FORGET OPEC
MightyDude Champion Author Minnesota Posts:5,356 Points:1,676,295 Joined:Mar 2003	Message Posted: Oct 31, 2009 12:16:47 PM Ignore MightyDude Report Abuse is OPEC that DUMB?
AnObserver Champion Author New Jersey Posts:4,290 Points:1,422,770 Joined:Sep 2005	Message Posted: Oct 31, 2009 12:15:06 PM Ignore AnObserver Report Abuse Cartel politics
olcowboy14 Champion Author Spokane Posts:4,685 Points:743,950 Joined:Jul 2007	Message Posted: Oct 31, 2009 12:14:24 PM Ignore olcowboy14 Report Abuse Keep pumping, Hugo needs a new pair of shoes for Christmas.
TheSnowstorm Champion Author Montreal Posts:4,468 Points:1,006,605 Joined:June 2005	Message Posted: Oct 31, 2009 12:13:45 PM Ignore TheSnowstorm Report Abuse More politicking from the small fry in the OPEC cartel.
DJRIO Champion Author Miami Posts:2,495 Points:459,550 Joined:Jan 2008	Message Posted: Oct 31, 2009 12:10:18 PM Ignore DJRIO Report Abuse Like the obey what opec says. venezuela, ibya and iran were one pump more oil to collect more money.
trojanbuck Champion Author Dayton Posts:3,890 Points:797,665 Joined:Aug 2007	Message Posted: Oct 31, 2009 12:08:47 PM Ignore trojanbuck Report Abuse Hey, it costs a lot of money to keep a crazy despot in office.
letmathe Champion Author Chicago Posts:10,032 Points:2,288,540 Joined:May 2001	Message Posted: Oct 31, 2009 12:08:33 PM Ignore letmathe Report Abuse Let's hope OPEC takes no destabilizing steps.
mstearno Champion Author Dayton Posts:3,601 Points:799,290 Joined:Jan 2008	Message Posted: Oct 31, 2009 12:08:03 PM Ignore mstearno Report Abuse Man wish we were drilling our own and creating our own jobs and circulating our own money
spnmve Veteran Author Cincinnati Posts:364 Points:1,067,830 Joined:Dec 2006	Message Posted: Oct 31, 2009 12:07:41 PM Ignore spnmve Report Abuse anything to keep the price of crude up
psuray All-Star Author Hartford Posts:919 Points:223,650 Joined:Feb 2009	Message Posted: Oct 31, 2009 12:07:21 PM Ignore psuray Report Abuse are they afraid the demand will drop? If they keep the supply steady for now they will gain in production efficiencies.
Doubleeez Champion Author Connecticut Posts:2,757 Points:548,440 Joined:Sep 2005	Message Posted: Oct 31, 2009 12:06:56 PM Ignore Doubleeez Report Abuse Conserve NOW and let them dilly-dally over production numbers.
oilrobber Champion Author Miami Posts:4,694 Points:959,735 Joined:May 2007	Message Posted: Oct 31, 2009 12:04:58 PM Ignore oilrobber Report Abuse Our government is too busy blowing smoke up everyone's asses. Do the research on global warming and see that it is all mostly lies. You see now they have changed it to global climate change. It has been proven that CO-2 released is only 1% and not 7% as stated by Al Gore. This is why they don't want to drill. Face it...our government is selling all the people in the U.S. down the road.
adr47 Champion Author Saskatchewan Posts:2,411 Points:540,470 Joined:Nov 2008	Message Posted: Oct 31, 2009 12:04:18 PM Ignore adr47 Report Abuse Least he don't want to cut production. Figures price will be stable or rise at this production level.
braves89 Champion Author Chicago Posts:2,770 Points:660,345 Joined:Apr 2008	Message Posted: Oct 31, 2009 12:04:15 PM Ignore braves89 Report Abuse agree with dipstick1
Dipstick1 Champion Author Amarillo Posts:5,140 Points:1,477,790 Joined:Jan 2006	Message Posted: Oct 31, 2009 12:00:47 PM Ignore Dipstick1 Report Abuse Output is no problem.
indyjim Champion Author Indianapolis Posts:4,773 Points:1,351,620 Joined:Jul 2006	Message Posted: Oct 31, 2009 12:00:21 PM Ignore indyjim Report Abuse Keep production up and prices should come down.
dannyshouse Champion Author San Francisco Posts:1,461 Points:666,950 Joined:Apr 2008	Message Posted: Oct 31, 2009 12:00:01 PM Ignore dannyshouse Report Abuse price-fixing.
maske_2222 Champion Author Manitoba Posts:3,133 Points:649,090 Joined:Oct 2008	Message Posted: Oct 31, 2009 11:57:35 AM Ignore maske_2222 Report Abuse good luck
Bou Champion Author Maine Posts:6,387 Points:1,706,590 Joined:Jan 2005	Message Posted: Oct 31, 2009 11:56:55 AM Ignore Bou Report Abuse Chavez must need the money.
ifallsguy Champion Author Minnesota Posts:2,748 Points:760,750 Joined:Apr 2007	Message Posted: Oct 31, 2009 11:56:09 AM Ignore ifallsguy Report Abuse Hey, another country that spends more than it brings in. Go Ceasar!!!!
Boo1989 Champion Author Atlanta Posts:2,172 Points:558,140 Joined:Oct 2008	Message Posted: Oct 31, 2009 11:55:41 AM Ignore Boo1989 Report Abuse We need to drill here NOW!!!!!!!!!!!
playtimeCLE Champion Author Cleveland Posts:3,210 Points:596,635 Joined:Nov 2008	Message Posted: Oct 31, 2009 11:54:35 AM Ignore playtimeCLE Report Abuse That wont do anything, the prices are rising for other reasons. Thats my speculation...
rowing All-Star Author Macon Posts:880 Points:261,610 Joined:Sep 2009	Message Posted: Oct 31, 2009 11:54:04 AM Ignore rowing Report Abuse We need to be looking for our own oil and quit standing around depending on someone else
MiniFan Champion Author California Posts:1,833 Points:590,100 Joined:Nov 2008	Message Posted: Oct 31, 2009 11:53:38 AM Ignore MiniFan Report Abuse good..we need lower gas prices
hwmillerster Champion Author Missouri Posts:1,863 Points:500,890 Joined:Oct 2008	Message Posted: Oct 31, 2009 11:52:49 AM Ignore hwmillerster Report Abuse Chavez wants the money that the oil will bring.
04tang Champion Author Ohio Posts:1,807 Points:391,360 Joined:Jul 2006	Message Posted: Oct 31, 2009 11:52:13 AM Ignore 04tang Report Abuse Drill Drill Drill
nozzle46 Champion Author Little Rock Posts:2,498 Points:630,155 Joined:Jul 2006	Message Posted: Oct 31, 2009 11:47:52 AM Ignore nozzle46 Report Abuse Not a lot of push for maintaining production.
AC-302 Champion Author Los Angeles Posts:14,885 Points:1,948,660 Joined:Aug 2004	Message Posted: Oct 31, 2009 11:47:32 AM Ignore AC-302 Report Abuse Chavez isn't entirely stupid. Oil is up. So if the price is up, pump out more at that price to make more money.
TBONE3 Champion Author Pennsylvania Posts:3,905 Points:1,007,595 Joined:Mar 2005	Message Posted: Oct 31, 2009 11:40:33 AM Ignore TBONE3 Report Abuse People in Hyades want ice water too. You go Hugo!
aalix Champion Author Orange County Posts:18,220 Points:3,178,800 Joined:Aug 2001	Message Posted: Oct 31, 2009 11:35:20 AM Ignore aalix Report Abuse Long article about one sentence: maintain current production.
NatureBoyKY Champion Author Kentucky Posts:1,891 Points:621,240 Joined:Jan 2008	Message Posted: Oct 31, 2009 11:34:06 AM Ignore NatureBoyKY Report Abuse Hugo wants some money for something. Probably invading Columbia.
Pucked Champion Author Fort Worth Posts:1,091 Points:210,780 Joined:Jun 2009	Message Posted: Oct 31, 2009 11:31:54 AM Ignore Pucked Report Abuse Hugo needs to shut up or some one needs to shut him up. That guy is just a trouble maker. He says he hates the US but he sure loves to sell US oil.
Don20 Champion Author Oklahoma City Posts:4,755 Points:1,649,775 Joined:Mar 2005	Message Posted: Oct 31, 2009 11:31:51 AM Ignore Don20 Report Abuse There output is all they can pump, they need the money...
SpruceGuse2 Champion Author Michigan Posts:4,898 Points:1,493,665 Joined:Mar 2006	Message Posted: Oct 31, 2009 11:28:55 AM Ignore SpruceGuse2 Report Abuse And we continue to make that country richer.
xybiz Champion Author Illinois Posts:1,057 Points:1,260,645 Joined:Aug 2005	Message Posted: Oct 31, 2009 11:28:46 AM Ignore xybiz Report Abuse Does anyone like OPEC?
PrepHermit Champion Author New Jersey Posts:3,285 Points:678,430 Joined:Aug 2008	Message Posted: Oct 31, 2009 11:23:17 AM Ignore PrepHermit Report Abuse It's good to have conflict within OPEC.
suzyq2007 Champion Author Dallas Posts:2,819 Points:781,025 Joined:Oct 2007	Message Posted: Oct 31, 2009 11:20:32 AM Ignore suzyq2007 Report Abuse I am sure they will do this if they will make more money, but not to help the consumer
GoBlazers Champion Author Washington Posts:2,819 Points:402,385 Joined:Dec 2008	Message Posted: Oct 31, 2009 11:19:34 AM Ignore GoBlazers Report Abuse Ha. As if Hugo has that kind of pull with OPEC.
MikLamb Champion Author Texas Posts:3,073 Points:1,204,115 Joined:Jun 2006	Message Posted: Oct 31, 2009 11:17:17 AM Ignore MikLamb Report Abuse They are trying to shrink supply. We have to keep shrinking demand as well. Conserve!
bluebird1 Champion Author Toronto Posts:10,737 Points:2,148,245 Joined:May 2004	Message Posted: Oct 31, 2009 11:15:52 AM Ignore bluebird1 Report Abuse Of course wants to keep levels up, since Oil is rising even when oversupplied.
cableman31 Champion Author New York Posts:4,052 Points:1,073,080 Joined:May 2004	Message Posted: Oct 31, 2009 11:12:30 AM Ignore cableman31 Report Abuse If cutbacks would hurt Hugo I'm all for them. Screw him. I'll just conserve a little more.
movinon Champion Author Kansas City Posts:16,872 Points:1,792,785 Joined:Mar 2005	Message Posted: Oct 31, 2009 11:12:13 AM Ignore movinon Report Abuse Chvez is a loon, who cares what he wants?
qmyster All-Star Author Denver Posts:570 Points:166,540 Joined:Aug 2009	Message Posted: Oct 31, 2009 11:10:29 AM Ignore qmyster Report Abuse We should make those oil country pay for our protection. Oh, we did that, We went into Iraq. Wrong Country. How about the "SAUDI".
bluenvoy Champion Author Nashville Posts:7,842 Points:1,093,965 Joined:Oct 2005	Message Posted: Oct 31, 2009 11:09:17 AM Ignore bluenvoy Report Abuse Chvez needs every dollar he can get and production limits would limit his cash.
rjoeh Champion Author Michigan Posts:3,805 Points:1,585,790 Joined:Jun 2004	Message Posted: Oct 31, 2009 11:09:04 AM Ignore rjoeh Report Abuse We are at their mercy... thats why its so important that we seek alternate energy sources and use those we already have. By the time we run out of our own resources... I would suspect that science will have made science fiction a reality for the living world.
sugarbugger Sophomore Author Buffalo Posts:241 Points:126,010 Joined:May 2009	Message Posted: Oct 31, 2009 11:08:57 AM Ignore sugarbugger Report Abuse I wouldn't trust anything Venezuela says whether it's Chavez or this "Oil Minister."
RayJayT Champion Author Mississippi Posts:2,881 Points:622,030 Joined:Aug 2008	Message Posted: Oct 31, 2009 11:08:32 AM Ignore RayJayT Report Abuse who cares what they want..
repeater1 Champion Author Kansas Posts:3,467 Points:1,406,295 Joined:Oct 2005	Message Posted: Oct 31, 2009 11:07:18 AM Ignore repeater1 Report Abuse The last thing we need is for Venezuela to dictating oil production. I would rather take my chances with the middle east than with our South America "friends"
baitmn Champion Author New Orleans Posts:4,023 Points:1,131,950 Joined:Sep 2006	Message Posted: Oct 31, 2009 11:06:08 AM Ignore baitmn Report Abuse Yep they want to cut the production as to raise the pump price
QB151 Champion Author Riverside Posts:1,956 Points:436,440 Joined:Apr 2009	Message Posted: Oct 31, 2009 11:05:36 AM Ignore QB151 Report Abuse I have said it before be aware of Chavez he is in with Castro...
reeko Champion Author Dallas Posts:2,294 Points:560,440 Joined:Aug 2005	Message Posted: Oct 31, 2009 11:04:13 AM Ignore reeko Report Abuse its simple... Drill here. Drill now. Ignore OPEC.