Monday Oct 10, 201103:02 AM GMT
'OPEC likely to keep output unchanged'
Mon Oct 10, 2011 3:4AM
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Iran's OPEC Governor, Mohammad-Ali Khatibi (file photo)
The Iranian OPEC Governor, Mohammad-Ali Khatibi, says the organization's members will probably keep their target oil output unchanged.

"Oil producers and consumers are satisfied with the current price level for crude," the Organization of Petroleum Exporting Countries' chairman was quoted on Saturday by the Oil Ministry's official website, Shana, as saying.

“It is predicted that most of the OPEC members agree to maintain the current level of oil production” during the organization's next meeting, he added.

Presided by Iranian Oil Minister, Rostam Qasemi, the 160th OPEC meeting is scheduled to be held in the Austrian capital, Vienna, on December 14.

Iran is the second-biggest producer in the 12-member organization after Saudi Arabia.

OPEC, responsible for 40 percent of global oil output, has kept official production level unchanged since January 2009.

Iran officially took over the rotating presidency of OPEC for the first time in 36 years in January 2011.

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