/IRBIS, March 17, 2010/ - The Organization of Petroleum Exporting Countries will maintain oil production quota at its current level, with oil prices above $ 80 a barrel, - said in today's communication Bloomberg.

As indicated, this opinion, which will be officially announced at today's meeting in Vienna, shared by all the ministers of OPEC member countries, even when the supply of oil in excess of consumption.

"All 12 members of OPEC said that the cartel is likely to keep production unchanged. Oil prices are in the right range, and there is no need to change the quota, said Saudi Oil Minister Ali al-Naimi, while his Algerian counterpart Chakib Khelil said that a chance "50 to 50, that quota will be raised at a subsequent meeting in September," - stated in a communication Bloomberg.

President of Germanicus Pinto, who is the minister of non-renewable natural resources of Ecuador, also said that there is no need to change production policy.

"We'll just continue to do what we do," - said Pinto, when he arrived in Vienna late last night. "The economies of large consumers slowly emerging from recession".

OPEC members intend to maintain high production quotas, even though its own analysis of the group shows that the cartel produces more oil than is needed in the market. The current level of oil production by OPEC of 1.5 million barrels per day.

"Sooner or later we will have to change the ceiling, but no one knows when," - said the representative of Algeria, Chakib Khelil reporters in Vienna yesterday. "We're going to higher prices. Most likely we will raise the quota.

Angolan Oil Minister Jose Maria Botelho de Vasconcelos, said yesterday in Vienna that the price of oil between $ 80 and $ 90 per barrel are good and that the price of $ 90 is too high.

Recall that today is the OPEC ministerial meeting in the new headquarters in Vienna, which started at 9 am local time.

[2010-03-17]