OPEC AND OIL PRICES
Venezuela Confirms Refusal to Cut Production
Venezuela has reaffirmed its point-blank refusal to cut production from its present OPEC quota level of 1.55mn b/d. Venezuela's position in this regard was previously announced at last month's OPEC conference in Geneva.
Venezuela's stand was reiterated by Oil Minister Arturo Hernandez Grisanti who told a press conference in Caracas on 30 March that, because of its pressing financial obligations, Venezuela...