VOICED : Venezuela no logra convencer a la OPEP

OPEC decided not to cut oil production despite falling prices, maintaining a level of 30 million barrels per day as agreed in December 2011. Venezuela, facing economic challenges, pushed for a production cut to raise prices but faced opposition from Gulf countries. Venezuela also suggested coordinating with non-OPEC producers like Russia and Mexico to address the market's oil surplus.

Why did OPEC decide not to withdraw two million barrels of oil per day from the market?

• To increase oil prices

• To support Gulf countries' interests

• To reduce market competition

• Due to demand driven by Venezuela

What was the production level OPEC decided to maintain to restore market balance?

• 35 million barrels per day

• 30 million barrels per day

• 25 million barrels per day

• 20 million barrels per day

What economic situation was Venezuela facing that led them to advocate for a production cut?

• A shortage of oil supply

• An increase in oil demand

• A severe economic crisis

• A surplus in oil reserves

What price did Venezuela aim for the oil barrel to reach by advocating for a production cut?

• $80

• $90

• $100

• $110

Which non-OPEC countries did Venezuela suggest coordinating with to address the oil market situation?

• Saudi Arabia and Iran

• Brazil and Argentina

• Russia and Mexico

• Canada and Norway