OPEC President to Visit UAE on Tour of Oil States
Venezuelan Energy Minister Ali Rodriguez, who holds OPEC's revolving presidency, will visit the United Arab Emirates on July 13th, the official news agency WAM reported Saturday.
It said the visit would focus on the OPEC summit Caracas is due to host September 28th to 30th. Rodriguez, who is on a tour of the oil cartel members, will also prepare for Venezuelan President Hugo Chavez to visit the Emirates on August 9th.
Rodriguez said before leaving Caracas on July 4th that he also plans to meet with Saudi Oil Minister Ali Nuaimi and discuss his announcement of a possible production boost on the part of the Organization of Petroleum Exporting Countries.
Chavez has urged Saudi King Fahd and other OPEC leaders "not to give in to blackmail" from industrialized nations that have called for increased oil output to bring down prices.
Nuaimi warned Monday that "if prices do not come down, the kingdom of Saudi Arabia, in concert with the other producer countries, will increase production by 500,000 barrels per day very soon."
But Rodriguez has since dismissed talk of individual member nations unilaterally raising output as "pure speculation." ABU DHABI (AFP)
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