Dominican president could go to Caracas for talks on oil crisis

The skyrocketing oil prices has prompted an extraordinary meeting of the Petrocaribe Summit slated for July 7 in Caracas, with 16 leaders of nations which conform Venezuela’s trade integration mechanism expected to attend. They will analyze the current fuels situation and explore adopting new measures to guarantee the nations’ energy security and economic and social development.Venezuela ambassador Francisco Belisario Landis said there’ll be a preparatory meeting prior to the summit, with the participation of ministers of member countries of Petrocaribe, a fuel supply deal that country’s government proposed in 2005.The energy cooperation agreement allows Dominican Republic credit on 40 percent of the oil it buys from Venezuela, in a quota of up to 50,000 barrels daily.