Maduro says Venezuela 'is ready' to supply global oil market

Venezuela

to

world market” for oil and gas, said Wednesday, September 14, President Nicolás Maduro, who denounced the energy crisis caused by the

sanctions taken against Russia after its invasion of the country. 'Ukraine.

," the head of state said at an event. organized within the framework of the visit to Caracas of the Secretary General of OPEC, Haitham al-Ghais.

Nicolás Maduro claimed his government had

its oil industry, whose production had reached historic lows after years of disinvestment and lack of maintenance.

Today, it is around 700,000 barrels per day, compared to 2.3 million barrels per day in 2002.

The United States imposed a series of sanctions on Caracas in 2019, including an embargo on Venezuelan oil, after Nicolás Maduro was re-elected in 2018 for a second term in a vote boycotted by the opposition.

President Joe Biden's administration announced in May a limited easing of some of those sanctions.

The move came as energy prices surged due to the war in Ukraine.

A “fair, balanced price” of 100 dollars per barrel

The Chavista president condemned the

generated by the sanctions against Russia, which he described as

(and)

.

Russia, Europe's largest supplier, has sharply reduced its gas deliveries, sparking fears of shortages and rising prices.

Nicolás Maduro called for a

of $100 a barrel and reiterated his call for foreign oil companies to produce in Venezuela.

," he said.

“Venezuela has more than 50 first-class gas projects, with seismic studies carried out and with all the legal guarantees for international investors to

come

,” he said. -He insists.

Haitham al-Ghais said OPEC faced

challenges since its inception 62 years ago.