Caracas: Ministers of the Organisation of Pet-roleum Exporting Countries (Opec) do not plan to discuss production quotas at their next meeting in Ecuador in December, Venezuela's energy minister said on Monday.
"I think all the Opec nations agree on the consensus to keep quotas as we have them and to continue monitoring the oil market," Rafael Ramirez said ahead of the December 11 get-together in Quito.
"No discussion of quotas is expected," he told reporters.
"The perspectives for 2011 will be analysed," he said.
Fair price
Venezuela still believes oil at $100 (Dh367) per barrel is a "fair" price for crude, Ramirez added.
"That's our position and it's a position gaining currency in Opec, shared by various ministers."
Venezuela often calls for higher prices to maximise returns from a sector that is the linchpin of an economy that has diversified little from reliance on oil in the last century and is now battling recession for a second year running.
The minister said that while the international oil price had been gradually recovering, there was no room for complacency among producers.
