OPEC KEEPS OIL PRODUCTION LEVEL

OPEC will keep oil production levels steady while the outlook for prices remains uncertain, Wilson Pastor-Morris, president of OPEC, indicated to the media. “Yes, there is a consensus between members,” he said. “We are happy with current prices … (and are) not worried about oil rising above 80 dollars a barrel.” The official output quota is currently set at 24.84 million barrels a day but as the price of a barrel of oil has soared follwing the global financial crisis, some OPEC members have been producing above their set quotas to boost revenues. Saudi Arabia is content for crude oil