Iran/Venezuela Join Forces

The Iranian and Venezuelan ministers of oil have agreed on the formation of a technical committee to investigate joint venture deals in the oil industry. This agreement took place during a recent meeting between the two.

The ministers say the energy committee will be used to identify grounds for oil resource development projects in the future.

In addition to the agreement, Zanganeh and Ramirez said they agreed with the OPEC price to stand between $22 and $28 per barrel.