Reply #8: Venezuela Aligning With Iran [View All]

[Strelnikov_]

OPEC Has Consensus To Cut Output In March

http://www.businessweek.com/ap/financialnews/D8FF5P00D.htm?campaign_id=apn_home_down&chan=db

Ramirez also said, however, that he would tell Iran's Oil Minister Kazem Vaziri Hamaneh that Venezuela would side with Iran in its standoff with the West over its nuclear program.

"We support Iran in its nuclear dispute," Ramirez said.

Venezuela exports to US 1,235 Mbbl/dy

As a side note, why is OPEC going to cut production in March, in advance of 'driving season', when oil prices are near record? Could it be that the lower production rate represents depletion of the resource? No, that couldn't be.