OPEC Decides to Keep Oil Output Ceiling of 28 Million Barrels Per Day

OPEC decides to keep oil output ceiling of 28 million barrels per day

VIENNA, Jan. 31 (Xinhua) — The 139th Meeting of the OPEC Conference sealed a deal here on Tuesday to keep the oil output ceiling of the OPEC at a maximum 28 million barrels per day.

The decision to keep the cartel’s production ceiling of 28 million barrels per day had been widely-expected.

Ministers had already revealed the move before the Organisation of the Petroleum Exporting Countries released an official statement.

Edmund Maduabebe Daukoru, president of the OPEC Conference and minister of State for Petroleum Resources of Nigeria, told the concluding press conference that the OPEC is committed to a stable oil market, urging all parties concerned to work for this objective.