Created on Friday, 31 May 2013 Written by GEORGE JAHN,Associated Press
VIENNA (AP) — OPEC oil ministers have decided to keep the organization's output target at 30 million barrels a day.
The decision of the 12-nation oil cartel was expected. The price for internationally traded benchmark oil is over $100 barrels a day, which is a level most OPEC countries are happy with.
The ministers also discussed more complex issues Friday. They included surging shale oil production in the U.S. that could weaken OPEC's role as the world's petroleum powerhouse and a potentially destabilizing spat between members Saudi Arabia and Iran over leadership of the organization.