OPEC to meet in June in Caracas: Venezuelan president

The Organization of Petroleum Exporting Countries (OPEC) is scheduled to meet in Caracas on June 1, Venezuelan President Hugo Chavez announced Tuesday.

At the inauguration of a thermoelectric plant in the central city of Valencia, Chavez said the meeting is part of his efforts to implement his "strengthening strategy" designed to enhance the unity among OPEC nations.

"We reunified OPEC, we helped OPEC, we strengthened the organization and the price of oil began to rise," he said.

Chavez said he had also stepped up his contact with non-OPEC countries such as Russia, Mexico, Canada and Norway, in order to "convince them to agree to respect quotas, because we are producing far too much petrol."

Venezuela, a founding member of the OPEC club, is the world's fifth largest oil exporter. It produces 3.3 million barrels a day and sells 1.5 million barrels to the United States, its main client.

Source: Xinhua