Maduro Eulogio Venezuelan President Nicolas Maduro said on Thursday that his country had begun discussions with the Organization of Petroleum Exporting Countries (OPEC) on mechanisms to increase the global oil price. “He spoke with the secretary of OPEC, we are making efforts for a new meeting soon between OPEC and non-OPEC members, with Russia at the head … to stabilize the price towards $40 (per barrel) and over $50 and $60,” Maduro said on state TV, referring to Oil Minister Eulogio Del Pino. Maduro gave no further details or explanations of the meeting. An informal meeting of formal and informal members of OPEC could feature a discussion on a potential production freeze in September, Reuters said. Twice this year, OPEC has refused to reduce production rates for oil, prompting its rival, Russia, to increase production as well. Iran and Saudi Arabia’s regional rivalry has prevented either side from pursuing […]