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OPEC uniting to keep quota as oil heads for best year

Posted on 12 December 2012

Most members of the Organization of Petroleum Exporting Countries are signaling they’ll keep production policy unchanged at a meeting in Vienna today as the group struggles to agree on a new secretary-general.
While OPEC’s own forecasts show that it’s pumping more than consumers need, Saudi Arabia, Iraq, Iran, the United Arab Emirates, Angola and Ecuador have indicated that supply and demand are approximately in balance, suggesting that the group will stick to its official output target of 30 million barrels a day………………………………………..Full Article: Source


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