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Ministers see no policy change as OPEC starts meet

14 June 2012, 14:33

 Vienna - Oil ministers for Iran, Kuwait and Nigeria said they expected OPEC to keep supply limits unchanged as the producer group started a meeting to set policy for the second half of the year.

It was "most likely" that the Organization of the Petroleum Exporting Countries would maintain its 30 million barrel a day target, Kuwait's Hani Hussein said.

"Most probably we will agree on 30 million. Iran would be happy with 30 million," said Iranian Oil Minister Rostam Qasemi.

He called for actual OPEC production to be brought in line with that target. Recent higher Saudi output has pushed actual output to 31.6 million bpd.

The ministers were speaking to reporters at the start of a meeting that will also seek to elect a new secretary general.

Ministers said they would not try to set individual country quotas.

Saudi Oil Minister Ali al-Naimi made no comment.

- Reuters

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