OPEC agrees expected crude output rollover

摘要

Vienna—OPEC ministers meeting in Vienna on Wednesday reached a widely expected agreement to keep their current crude output ceiling of 30 million b/d in place for the time being and are to meet again on June 11, 2014. The oil producer group said in a communique that, despite global economic uncertainty and the likelihood that growth in world oil demand would be more than offset by a projected increase in non-OPEC supply, ministers had decided to maintain the current ceiling “in the interest of maintaining market equilibrium.” “In taking this decision, member countries re-confirmed their readiness to swiftly respond to developments which could have an adverse impact on the maintenance of an orderly and balanced oil market,” it said. There is certainly no shortage of potential developments, some of them within OPEC, that could disturb the market.