The market is overstressed ... this means we have to cut around 500 000 barrels a day.

The market looks well supplied, in fact oversupplied, by 2 million barrels a day. We believe OPEC has to be ready to cut, maybe now in this meeting, maybe at the next meeting.

In this largest energy reservoir of the world, great interests placed their sights here

If the pressure continues on Iran, the price will be higher.

The ceiling will be maintained the same and we will offer the market what Opec can produce,

Everyone is building inventories, Japan, the U.S., and that is very dangerous. There is an oversupply of one million barrels a day.

This country does not allow itself to be blackmailed. These two multinational companies resist adjusting to our law. Our sovereignty isn't under negotiation.

Any contract (of sale) will have long-term supply contracts for Venezuelan oil.

Of the 32 (companies), we have agreed with 30. We believe this was a mistake on the part of Total and Eni.

We will evaluate if it's a good opportunity.