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OPEC expected to keep oil output ceiling

: Monday, June 09 - 2014 @ 12:30

The Organisation for Petroleum Exporting Countries (Opec) is set to stick by its oil output ceiling when it meets this week, as supply tensions linked to global crises help to keep crude prices high, benefiting producers, AFP has reported. Analysts predict the organisation to keep its daily output ceiling at 30 million barrels of oil. “It should be a very quick meeting,” Bill Farren-Price, head of energy consultancy Petroleum Policy Intelligence, said of Opec’s upcoming gathering in Vienna on Wednesday. Opec “will be very happy with the price and for that reason, there will be no need for change” to the output ceiling, he told the news service.

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Monday, June 9- 2014 @ 12:30 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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