Maduro: we are beginning constant battle for oil prices

President of Venezuela Nicolas Maduro said that OPEC is beginning a constant battle for the stabilization in oil prices.

"We announce ongoing work to establish a new alliance needed for the economy and humanity," he said, speaking at a ceremony in Caracas dedicated to the 55th anniversary of the creation of OPEC.

According to Maduro, the current situation with oil prices annihilates global investment. In this regard, Venezuela is preparing a proposal for the development and harmonization of the basic parameters of oil prices. The president of Venezuela plans to discuss this initiative with some OPEC countries and oil-producing non-member countries.

Earlier in September, Maduro proposed convening a summit of OPEC countries to agree on mechanisms to stabilize oil prices, RIA Novosti reports.