VIENNA, December 12 (RIA Novosti, Taras Lariokhin) - The Organization of the Petroleum Exporting Countries has decided to maintain oil production quotas at 28 million barrels per day and not propose a possible production increase by two million barrels, an OPEC source said Monday following the cartel's conference in Kuwait.
In September, OPEC member-states promised to supply an extra two billion bpd to the world market given the sharp increase of oil prices after hurricanes in the Gulf of Mexico.
The cartel had real potential for the immediate increase of oil production, but that is currently unnecessary, the source said. OPEC real oil production was 30 million bpd in October and 30.25 million in November.
OPEC member-states agreed to hold the next ministerial conference in Vienna January 31 to analyze the situation on the world market and discuss a possible decline in the demand for oil.
