Business News
OPEC says oil ouput increase unlikely until 2013
Nov 8, 2011, 14:46 GMT
Vienna - The Organization of the Petroleum Exporting Countries (OPEC) is not likely to increase its output this or next year, the cartel's chief Abdalla Salem el-Badri said Tuesday in Vienna.
As Libya's production was currently expanding again after having stopped during the civil war, more oil would be supplied to world markets, he said.
'I don't think that OPEC will produce more than 30 million barrels a day by the end of this year and maybe also next year,' el-Badri told reporters, referring to the OPEC's current total output.
