Latin America’s oil producers met in Ecuador

The meeting in Quito asks Latin American oil producers to seek consensus on freezing production

Baku. 9 April. REPORT.AZ/ Latin American oil producers, including main exporters Venezuela, Colombia, Ecuador and Mexico, met Friday at UNASUR's headquarters in Quito where representatives from each country agreed to a common agenda, Report informs refrerring to the Russian media.

A statement released by the Ecuadorean Foreign Ministry detailed the three points of agreement as follows:

"Establish a mechanism for dialogue and integration in the region for the sharing and publicizing of information regarding hydrocarbons reserves, production, demand and inventories.

Promote decisions regarding production, by oil-producing countries, based on public information of the global market and the need to balance production and demand for crude in order to reach an equilibrium price.

To appeal to oil-producing countries who are OPEC and non-OPEC member, who are invited on April 17 at the meeting in Doha-Qatar, to take the necessary actions to stabilize the world oil market, in order to improve prices for the benefit of producing and consuming countries."

Ecuadorean Foreign Minister Guillaume Long stated before the meeting that the goal was "to reach consensus over oil, especially prices."

The meeting was organized over the need to discuss a possible output freeze or other methods to bolster international crude prices and seek a joint position ahead of the OPEC and other major non-OPEC oil producers, such as Russia, during a summit in Qatar, April 17.

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