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Venezuelas Nicolas Maduro has sought OPEC support against U.S. sanctions imposed on his countrys oil industry citing their impact on oil prices and potential risks for other members of the producer group NegativeVenezuelas Nicolas Maduro has sought OPEC support against U.S. sanctions imposed on his countrys oil industry citing their impact on oil prices and potential risks for other members of the producer group http://www.reuters.com/places/mexico/article/us-venezuela-politics-opec-exclusive/exclusive-venezuelas-maduro-seeks-opec-help-against-u-s-sanctions-letter-idUSKCN1Q01HD2019-02-12
OPEC tends to avoid political disputes involving individual members NegativeVenezuelas Nicolas Maduro has sought OPEC support against U.S. sanctions imposed on his countrys oil industry citing their impact on oil prices and potential risks for other members of the producer group http://www.reuters.com/places/mexico/article/us-venezuela-politics-opec-exclusive/exclusive-venezuelas-maduro-seeks-opec-help-against-u-s-sanctions-letter-idUSKCN1Q01HD2019-02-12
Venezuela was once a topthree OPEC oil producer but production has been in decline for years following the collapse of the countrys economy NegativeVenezuelas Nicolas Maduro has sought OPEC support against U.S. sanctions imposed on his countrys oil industry citing their impact on oil prices and potential risks for other members of the producer group http://www.reuters.com/places/mexico/article/us-venezuela-politics-opec-exclusive/exclusive-venezuelas-maduro-seeks-opec-help-against-u-s-sanctions-letter-idUSKCN1Q01HD2019-02-12
Together with Libya and Iran Venezuela is exempt from the latest OPECled supply cut due to the involuntary decline in production NegativeVenezuelas Nicolas Maduro has sought OPEC support against U.S. sanctions imposed on his countrys oil industry citing their impact on oil prices and potential risks for other members of the producer group http://www.reuters.com/places/mexico/article/us-venezuela-politics-opec-exclusive/exclusive-venezuelas-maduro-seeks-opec-help-against-u-s-sanctions-letter-idUSKCN1Q01HD2019-02-12
Its also been updated an OPEC source said without giving any further details NeutralScared by looming U.S. anticartel legislation for the oil industry the Organization for the Petroleum Exporting Countries and its allies such as Russia have decided against creating a formal body at least on paper http://www.reuters.com/places/africa/article/us-oil-opec-russia/opec-russia-draft-cooperation-charter-offers-no-formal-body-document-idUSKCN1Q01I92019-02-12
The idea of an organization of OPEC and nonOPEC countries has been mooted since joint efforts to stabilize oil prices have come to fruition PositiveScared by looming U.S. anticartel legislation for the oil industry the Organization for the Petroleum Exporting Countries and its allies such as Russia have decided against creating a formal body at least on paper http://www.reuters.com/places/africa/article/us-oil-opec-russia/opec-russia-draft-cooperation-charter-offers-no-formal-body-document-idUSKCN1Q01I92019-02-12
U.S. sanctions on Venezuela along with older sanctions on fellow OPEC member Iran have also prevented crude prices from falling further NegativeNEW YORK Oil prices fell about 1 percent on Monday as worries surrounding the resumption of U.S.China trade talks overshadowed support from OPECled supply restraint http://www.reuters.com/subjects/middle-easthttps://www.reuters.com/article/us-global-oil/oil-prices-fall-1-percent-slow-progress-in-trade-talks-counters-opec-cuts-idUSKCN1Q00132019-02-12
Venezuela President Nicolas Maduro has sought OPEC support against the sanctions citing their impact on oil prices and potential risks for other members of the producer group NegativeNEW YORK Oil prices fell about 1 percent on Monday as worries surrounding the resumption of U.S.China trade talks overshadowed support from OPECled supply restraint http://www.reuters.com/subjects/middle-easthttps://www.reuters.com/article/us-global-oil/oil-prices-fall-1-percent-slow-progress-in-trade-talks-counters-opec-cuts-idUSKCN1Q00132019-02-12