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Venezuela's Maduro in Qatar to Push for "Solid" Oil Prices

Posted by September 4, 2015

Venezuelan president Nicolas Maduro arrived in fellow OPEC nation Qatar on Friday in an unannounced visit to push for action on oil prices.

"The President of the Republic, Nicolas Maduro, arrived in Doha this Friday to continue his international tour and in favor of a solid price for oil," the Venezuelan state-run AVN news agency reported on its Web site, without providing further details.

Cash-strapped Venezuela has for months been pushing for an emergency OPEC meeting and joint coordination with Russia to stem a tumble in oil prices.

However, the Organization of the Petroleum Exporting Countries' relatively wealthy members in the Gulf drove the group's strategy shift last year to allow prices to fall to defend market share.

Finance Minister Rodolfo Marco tweeted photos of himself arriving in Doha with Maduro as well as Oil Minister and state oil company PDVSA boss Eulogio del Pino.

Maduro himself tweeted: "I'm here to wrap up this necessary tour and continue strengthening economic, financial and energy links."

In Moscow Maduro on Thursday met with his Russian counterpart Vladimir Putin on Thursday where he said various unspecified "initiatives" had been agreed with Putin.

However, Energy Minister Alexander Novak told reporters that Russia and Venezuela did not reach agreement on measures to support global oil prices.

Venezuela has been a historic price hawk, and a severe recession and product shortages have heightened Maduro's need for a market recovery, especially ahead of a Dec. 6 parliamentary election.

(Reporting by Alexandra Ulmer)

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