UPDATE 2-Venezuela says eight non-OPEC nations invited to Vienna meeting

martes 13 de octubre de 2015 17:18 GYT

(Adds context on Russia, Mexico, background)

By Alexandra Ulmer

CARACAS Oct 13 (Reuters) - Venezuelan Oil Minister Eulogio del Pino said on Tuesday that eight non-OPEC countries have been invited to an Oct. 21 oil meeting: Azerbaijan, Brazil, Colombia, Kazakhstan, Norway, Mexico, Oman and Russia.

The technical meeting of oil experts from the Organization of Petroleum Exporting Countries and non-OPEC countries will be held in Vienna, he told Reuters.

"The confirmations are coming in gradually and I'm personally calling ministers to ensure that the delegation is of the adequate level of authority," del Pino said.

Venezuela, an OPEC member, will unveil a bold new strategy this month, taking a page from the organization's history books with a proposed price band to build an automatic floor for prices at $70 a barrel.

In an exclusive interview with Reuters, Venezuela's long-time oil minister and current United Nations ambassador, Rafael Ramirez, said the proposal would reapply the old mechanism of progressive production cuts to control prices, with a "first floor" of $70 per barrel and a later target of $100 per barrel.

Price hawk Venezuela has been pushing to stem a tumble in oil prices, but faces an uphill battle to convince its richer Gulf counterparts and non-OPEC nations. The meeting's date was already known but the location and full list of invitees was not revealed until Tuesday.

Venezuela's proposal will be discussed at the meeting this month, Kuwait's oil minister said on Tuesday.   Continuación...