Sliding oil prices, Chavez and Gadhafi meet
Chavez was in Tripoli for a few hours before heading to Brussels, Belgium,
a
presidential palace spokeswoman said. No other details were immediately
available
about Chavez's visit to Libya, which was a last-minute addition to a 17-day
tour of
North Africa and Europe.
On Saturday, Chavez visited Algeria, where he discussed the oil market
with
Algerian President Abdelaziz Bouteflika. Chavez said he is on a campaign
to defend
oil prices, which have fallen steadily this year despite three output cuts
by the
Organization of Petroleum Exporting Countries.
Chavez said he may also visit Iran and Saudi Arabia during his foreign
tour.
Venezuela, Algeria, Libya, Iran, and Saudi Arabia are all OPEC members.
"We agree on the need to take extraordinary measures to confront the threat
of an
eventual fall in oil prices," Chavez said after meeting with Bouteflika.
On Saturday, Chavez said he would like to see prices return to OPEC's target
range
of $22 to $28 a barrel and is considering calling for an emergency meeting
of
OPEC heads of state.
The average price of crude oil in OPEC countries hit a two-year low of
$19.61 per
barrel last week amid declining demand for oil and a slumping global economy.
OPEC's price band system calls for a production cut of at least 500,000
barrels a
day if prices stay below $22 a barrel for 10 consecutive days. But the
cartel has
been reluctant to reduce output in the aftermath of the September 11 terrorist
attacks in the United States.
Chavez has made promoting unity in OPEC a cornerstone of his foreign policy.
The
United States warily watches Chavez's ties to Libya and Iraq, which are
on
Washington's list of countries that sponsor terrorism.
Venezuela insists those relations are purely based on oil. Chavez, who
has
condemned the September 11 attacks and promised to maintain a steady oil
supply
to the United States, has said Washington's fight against terrorism will
not affect his
relations with OPEC countries.
Chavez will also visit Austria, Portugal, Norway and Britain before returning
to
Venezuela on October 24.
Copyright 2001 The Associated Press.