OPEC meeting ratifies output at 30 million bpd
A delegate of the organization revealed that the quota "remains as it is"
The Organization of Petroleum Exporting Countries (OPEC) has resolved on Thursday in Vienna to keep unchanged its joint production quota at 30 million barrels per day (bpd), said a delegate who asked not to be named.
"It remains as it is," the source said after confirming the decision of the OPEC ministers during a conference behind closed doors, Efe cited.
No matter the goal set, the OPEC output is presently at 31.6 million bpd. The surplus comes mainly from Saudi Arabia.
José Vicente Rangel clearly said: "We are not conducting negotiations threatened with a gun in the head." He warned behind closed doors in the midst of the social upheaval occurred during the oil strike in 2002 and 2003. Dissenting Timoteo Zambrano answered back that no other option was available: "The thing is that otherwise, you do not negotiate."