June 15, 2012 8:46 AM

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OPEC to keep oil output unchanged

The Organization of Petroleum Exporting Countries, OPEC has decided to maintain the ceiling of 30 million barrels oil production per day for the member nations. At a meeting in Vienna yesterday, the 12 nation group agreed not to increase the oil production as demanded by some members. OPEC is already producing around 31.8 million barrels per day with increased output from Saudi Arabia, Iraq and Libya.

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