By IANS
Abu Dhabi : There will be no change in Venezuela’s oil policy following rejection of President Hugo Chavez’s proposed constitutional overhaul in Sunday’s referendum, Venezuelan energy minister has said.
“People’s rejection of constitutional changes wanted by Chavez will not affect the country’s oil policy,” Rafael Ramirez told reporters here Tuesday on the fringes of a meeting of the Organisation of Oil Exporting Countries (OPEC), Spanish news agency EFE reported.
“No, not at all,” Ramirez reacted when asked about the implications of Sunday’s plebiscite for Venezuela’s approach to managing its enormous oil reserves.
Ramirez, who is also the head of state-owned oil company PDVSA, is in the United Arab Emirates (UAE) to attend the OPEC meeting convened to discuss whether the 13-member cartel should boost output to stabilise prices.
The Venezuelan minister said he was confident OPEC delegates would reach a consensus once the meeting begins Wednesday.
“We’re going to look at things carefully because we believe there is enough petroleum on the market,” Ramirez said.
Venezuela is among world’s top 10 oil exporters and the fourth largest supplier to the US. The Latin American country along with Iran, both on bad terms with the US, have consistently resisted increases in the OPEC quota.
Chavez had also said recently that oil prices would fluctuate within a band of $80 to $100 a barrel in the foreseeable future.