QUITO -- Venezuela will support any additional OPEC production cut to stabilize crude oil prices, visiting Venezuelan President Hugo Chavez said here Tuesday.
Chavez made the remarks following a meeting with Ecuadoran President Rafael Correa.
"We would agree with new production cuts until the price stabilizes. If we had to cut another million barrels per day we would not have a problem," Chavez told reporters.
The Organization of Petroleum Exporting Countries (OPEC) agreed in Vienna last Friday to cut oil output by 1.5 million barrels a day with an aim to address the slide of oil prices over past months.
OPEC Secretary General Abdalla Salem El-Badri said Tuesday in London that the organization could hold a new emergency meeting before its next scheduled session in December if the problem continued.
New York's main contract, light sweet crude for December delivery closed at 62.73 U.S. dollars a barrel Tuesday, while in London, Brent North Sea crude for December settled at 60.29 dollars.
Oil-exporters Venezuela and Ecuador have both suffered from the slide in prices.
Chavez made the remarks following a meeting with Ecuadoran President Rafael Correa.
"We would agree with new production cuts until the price stabilizes. If we had to cut another million barrels per day we would not have a problem," Chavez told reporters.
The Organization of Petroleum Exporting Countries (OPEC) agreed in Vienna last Friday to cut oil output by 1.5 million barrels a day with an aim to address the slide of oil prices over past months.
OPEC Secretary General Abdalla Salem El-Badri said Tuesday in London that the organization could hold a new emergency meeting before its next scheduled session in December if the problem continued.
New York's main contract, light sweet crude for December delivery closed at 62.73 U.S. dollars a barrel Tuesday, while in London, Brent North Sea crude for December settled at 60.29 dollars.
Oil-exporters Venezuela and Ecuador have both suffered from the slide in prices.
