Caracas, Dec 7 (Prensa Latina) Venezuela is promoting the need to use oil resources for the economic and social development of nations, Oil Minister Manuel Quevedo said. 'The participation of everyone is imperative, to listen to us, for the independence and sovereignty of countries. Oil resources have to be for the development of the people in economic and social matters, that is the work of unity,' Quevedo wrote.
The investment by oil producing territories is important to maintain the oil flow that will help in the development of nations worldwide and mainly the high consumers of the natural resource, he stated.
Quevedo, who is also the president of the state oil company Petroleos de Venezuela (PDVSA), also announced that the country will soon report on the mechanisms to preserve the stability of the world oil market, in order to work together with OPEC.
Venezuela participated on Thursday in the 175th meeting of the Conference of the Organization of Petroleum Exporting Countries, in Vienna, where it took over OPEC presidency for 2019.