Energy
Venezuela is satisfied with the current oil market situation and the status proposed by the Organization of Petroleum Exporting Countries (OPEC) with regard to output, and would rather not anticipate future increases in oil supply, said Venezuelan OPEC governor Bernard Mommer.

"We have witnessed a relative stability in price levels in recent weeks, even months. The OPEC has done a great job. There has been a lot of unity," said Mommer. He represented Venezuela in the OPEC meeting held on Wednesday, as Minister of Energy and Petroleum Rafael Ramírez failed to attend, AFP reported.

"It is always good to stabilize oil prices. That's what we want," Venezuela's OPEC governor said. Mommer referred to the fact that oil prices fluctuate between USD 70 and USD 80 a barrel.

The Venezuelan official refused to anticipate a change in OPEC's strategy in the next meeting, to be held in September. "We will monitor the situation in August or September," Mommer said.