Consensus in Opec on steady output
AFP, Vienna
A consensus is building within Opec to maintain its oil production ceiling until at least early next year at Thursday's meeting, but the 11-nation cartel remains divided over who will be its next secretary general. The oil ministers of Algeria, Indonesia, Iran, Libya, the United Arab Emirates (UAE) and Venezuela have said they prefer Organisation of Petroleum Exporting Countries to keep its 24.5 million barrels per day (bpd) ceiling unchanged for now, and Opec kingpin Saudi Arabia seems satisfied with the status quo. These countries said Opec should hold another meeting between January and March next year to review the market situation. Oil prices since June have stayed close to the upper limit of the 22-28 dollar per barrel price band targeted by Opec, and often hovered above it, with demand now driven by the winter season in the northern hemisphere and high economic growth in the United States and China. "I don't think there is a need for a change in quotas... we probably have to meet again before March," Libyan Oil Minister Abdulhafid Zlitni said.
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