The Non Aligned Movement (NAM) summit of leaders gets underway in Venezuela’s Margarita Island on Saturday, which will be an occasion for Venezuela to gather support for a global deal to bolster oil prices, Venezuelan Petroleum Minister Eulogio del Pino has said.
Venezuela, currently in the throes of an economic crisis, is host to the 17th NAM Summit, that is expected to bring together leaders from 120 developing countries that are its members.
“Obviously we are going to use this meeting to build consensus,” Del Pino told reporters. “The focus for the consensus is Algeria, where we hope to reach important stabilisation accords to obtain a fair price for hydrocarbons that all producer countries are seeking,” he said. During September 26-28, Algeria is to host meetings of the International Energy Forum and the 13-nation OPEC, which are also taking part in the NAM Summit.