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 February 7, 2016 - 5:00 AM EST
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Venezuela's oil minister holds talks with Saudi counterpart

, Feb 7 (EFE) - Venezuelan Oil Minister and Petroleos de
, or PDVSA, CEO Eulogio Del Pino said his meeting Sunday with his Saudi Arabian counterpart, Ali al-Naimi, in
was "productive."

Views were exchanged about the situation on the international petroleum market and the need for both Organization of the Petroleum Exporting Countries members and non-members to cooperate, Del Pino said in a statement.

"Our meeting was positive and very successful," Al-Naimi said.

The meeting was held during Del Pino's tour of oil-producing states and is part of an effort by

to "stabilize the market" for crude oil.
, the world's fifth-leading crude exporter, produces around 3 million barrels per day (bpd) of oil and exports roughly 2.5 million bpd, mostly to
the United States

The South American nation's oil revenues account for about 95 percent of export earnings, which have fallen roughly 70 percent due to the drop in international crude prices.

Del Pino held talks with his counterparts in

, which currently holds the OPEC Conference's presidency; and
before traveling to
Saudi Arabia


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Source: News (February 7, 2016 - 5:00 AM EST)

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