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Ramirez: Venezuela worried about oil market stability

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By Shoaib Ur Rehman
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CARACAS: Venezuelan Energy Minister Rafael Ramirez said on Tuesday that the South American OPEC nation was very concerned about global oil market stability and that OPEC should aim for a $100 per barrel price.

Ramirez said Venezuela was worried about surplus supply in the market depressing prices.

"There are countries in the Gulf that are not following OPEC price policy and are acting more in favor of consumer nations," Ramirez told reporters. "I don't want to name them ... they are over-producing."

Copyright Reuters, 2012

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