OREANDA-NEWS. A new regional political chasm and a slow but steady recovery in oil prices have bought time for the Venezuelan government to harness its remaining economic resources as it intensifies a crackdown on political opponents.

A lengthy extraordinary session of the permanent council of the Organization of American States (OAS) approved a statement last night supporting a "national dialogue" between the Venezuelan government and the opposition, eschewing the implementation of the Inter-American Democratic Charter that implies a threat of expulsion from the regional body.

Caracas hailed the decision as a triumph. "Venezuela achieved a victory in the OAS by summoning the permanent council for a declaration in support of dialogue, the Constitution and peace," foreign minister Delcy Rodriguez said.

Argentina, which currently holds the council's rotating three-month presidency, called for yesterday's extraordinary session on 31 May, one day after OAS secretary general Luis Almagro separately issued a detailed report that accuses the Venezuelan government of systematic constitutional and human rights abuses.

Almagro urged the council on 30 May to meet on 10-20 June to discuss his report and consider invoking the charter against Venezuela. Almagro reiterated his position today, declaring that the council must set a date to discuss the Venezuelan crisis and consider measures.

But yesterday's meeting revealed an overwhelming reluctance in the region to confront Caracas, not just among small Caribbean countries that still benefit from Venezuelan oil supplies, but also by Argentina, which aspires to regain international prestige at a time when it faces its own restive domestic opposition that harbors some sympathy for the Venezuelan government.

Within Venezuela, political opposition leaders, who are pressing for a presidential recall referendum that the government has so far dismissed, read the OAS statement as another betrayal by the international community.

Venezuela's opposition Democratic Unity (MUD) coalition, which holds an absolute majority in the national assembly, says any direct dialogue with the government of President Nicolas Maduro must include allowing a recall referendum in 2016, addressing a worsening humanitarian crisis and freeing political prisoners.

The OAS meeting wrapped up just as Opec oil ministers were gathering in Vienna. The meeting ended with no action or intervention, in response to a slowly recovering oil price trend in recent months.

"Today Opec reaffirmed its commitment to a stable and balanced oil market," Venezuelan energy minister Eulogio Del Pino said.

Del Pino had been one of the chief proponents of a failed proposal to impose a production freeze, or more recently, production bands to buoy the market.

Venezuela's oil export basket averaged $38.48/bl in 23-27 May, up from a monthly year-to-date low of $24.25/bl.

The uptick is still far from replenishing Venezuela's depleted coffers. International hard currency reserves are around $12bn, with a fraction of that in available cash.

State-owned oil company PdV lacks capital or credit to fend off natural oilfield declines, and for light crude imports to blend with its extra-heavy crude for export.