Venezuela seeks allies outside OPEC to steady oil prices
Latin American crude producer Venezuela, struggling to cope with sharply lower oil prices, is seeking support outside OPEC to stabilise the market, it said Tuesday before this week's cartel output meeting.
Venezuelan Oil Minister Asdrubal Chavez is currently in the Austrian capital to participate in Friday's meeting of the 12-nation Organisation of Petroleum Exporting Countries (OPEC).
Caracas proposes to establish a "technical working group" of both OPEC and non-OPEC nations, it said in a statement obtained by AFP.
The aim of the group is "to monitor the market and make recommendations to increase the effectiveness of the decision-making process of the producing countries".
http://news.yahoo.com/venezuela-seeks-allies-outside-opec-steady-oil-prices-210017163.html
