Maduro: Venezuela Ready to Provide Oil Stability to World

(Telesur, 4.Mar.2022) — Oil prices have risen this week due to supply concerns amid international sanctions directed at Russia for its military operation in Ukraine.

Venezuelan President Nicolás Maduro announced during a speech at the II Workers’ Congress  his country’s readiness to provide oil and gas stability to the entire world. 

“The doors of Venezuela are open to invest, to produce oil, to produce gas, and to give oil and gas stability to the whole world, including the United States of America,” said Maduro on Thursday during his speech at the Workers’ Congress.

Likewise, the Venezuelan president clarified that his country is prepared to increase its production to three million barrels quickly, while at the moment they are producing one million barrels.

According to declarations of the Organization of Petroleum Exporting Countries (OPEC), in January, Venezuela produced 755,000 barrels of crude oil per day.

Oil prices have risen this week due to supply concerns amid international sanctions directed at Russia for its military operation in Ukraine.

Reports indicate that the crisis in Ukraine will inflict economic damage and inflation on the economy worldwide. 

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