Extract: "In other oil news, Venezuela is pushing ahead will plans to build a “Caribbean OPEC”. Officials from the country said last week that they have succeeded in creating an association of regional oil companies amongst Caribbean nations.
The move is aimed at lowering energy costs in the region by cutting out international companies as producers and suppliers.
13 of 15 prospective partner nations have signed onto the accord, with only Trinidad/Tobago and Barbados opting out. Venezuela said that it is already preparing three oil tankers to supply crude to signatory countries".
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Comment: I don't think that the US is in favour of that. Both Iran and Venezuela want high oil prices.
China has influence in Venezuela.
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