28 de diciembre de 2016 08:17 AM
Actualizado el 28 de diciembre de 2016 08:40 AM
Venezuelan state-run oil company Petróleos de Venezuela (Pdvsa) announced on Tuesday that the volume of sales stipulated in main crude oil sale contracts would be reduced by January 1, 2017 “in compliance with the terms and conditions of their valid contracts.”
According to Pdvsa’s official website, the decision is grounded on the production cut of 95,000 barrels per day (bpd) approved by the Organization of Petroleum Exporting Countries (OPEC) last November 30 in Vienna.
The move is aimed at stabilizing the price of the barrel of oil in international markets.