Venezuela says shale oil is a disaster

Venezuela's Oil and Mining Minister Asdrubal Chavez (L) and Venezuela's Foreign Minister Rafael Ramirez talk during the 14th Cabinet Meeting of Petrocaribe in Caracas November 20, 2014. REUTERS/Carlos Garcia Rawlins·Reuters· (Reuters)

VIENNA (Reuters) - Shale oil is a disaster for climate change, Venezuelan Foreign Minister Rafael Ramirez said on Thursday as OPEC prepares to decide on oil output policy. "The U.S. is producing in a very, very bad manner. The shale oil, I mean it is a disaster from the point of view of climate change...," Ramirez told reporters. Oil ministers from the Organization of the Petroleum Exporting Countries meet on Thursday in Vienna, with Venezuela trying to rally support for action to boost crude prices that have been hit by a supply glut.

Advertisement