OPEC keeps oil production at current high level
(VOVworld) – The Organization of the Petroleum Exporting Countries (OPEC) decided on Friday to keep its production unchanged despite of a decrease of world’s oil price.
Speaking after a meeting in Vienna, OPEC President Emmanuel Ibe Kachikwu, also Nigeria’s Oil Minister, said OPEC did not announce the output ceiling at the meeting, adding that reducing output will not remarkably impact on the oil market. Iran announced that it will increase its crude oil production in next months Indonesia has been readmitted to OPEC. He said that OPEC will continue produce 32 million barrels a day. OPEC is now set the crude oil production at 30 million barrels a day.