Rosneft office Russian Energy Minister Alexander Novak is still keeping his cards close to his chest, with the ministry reporting that he discussed with his Venezuelan counterpart, Eulogio del Pino, “coordinating action” to rebalance oil markets. Del Pino visited Moscow earlier today, also meeting with Rosneft’s chief Igor Sechin, as part of efforts to help negotiations among OPEC members head in the right direction from Venezuela’s perspective. The South American country is perhaps the hardest-hit by the oil price crisis, with its economy in shambles and close to defaulting on its debt. According to Del Pino, his country proposed during this meeting that non-OPEC countries take 400,000 to 500,000 barrels per day out of the market—a lofty goal indeed given the small amount of cuts OPEC was suggesting they themselves would take offline. Russia’s energy top cat has made several noncommittal remarks regarding production levels this past week during […]