Iraq Oil Minister Expects No OPEC Output Change

Iraqi Oil Minister Hussain AlـShahristani said he does not expect OPEC to change its output target at a meeting later this month. "We really don't expect that in the next OPEC meeting there would be any change.

Despite the fact the global economy is gradually recovering, demand has not increased significantly enough to make us reconsider our production ceiling," Shahristani told Reuters. Shahristani also said that current oil prices, between US$70 and US$80 a barrel, were satisfactory.- AlWatan