Opec ministers agree to maintain oil production ceiling

15 March 2002 19:25  [Source: ICIS news]

LONDON (CNI)--The Organization of Petroleum Exporting Countries (Opec) on Friday agreed to maintain its crude oil production ceiling at 21.7m barrels a day until the end of June, according to sources close to the oil producing cartel.

Opec ministers, who were meeting in Vienna, Austria, also discussed plans to convene again towards the end of June to review production levels during the second half of this year. They had earlier reiterated their desire to keep prices in the $22-28/bbl range.

A spokeswoman for Opec told CNI that an official statement would be issued after the meeting concluded, expected to be around 21:00 hours (20:00 GMT).

By: Neil Sinclair
+44 20 8652 3214

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