Venezuelan Energy Minister Alvaro Silva said Friday that it is too early yet to feel the impact of OPEC Feb.
reduction .At their next semiannual ordinary meeting March 16 in Vienna, the Organization will evaluated the market situation and will make the necessary adjustments .
"If the need to cut oil production is maintained, in March, OPEC will do so," Silva said.
In an extraordinary ministers meeting last month, OPEC agreed an output reduction of 1.5 million barrels a day. Silva said it was too early also to assess the impact of the January output cuts, but he said that OPEC's is closely monitoring market.
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