Tuesday, December 13, 2011

OPEC Said to Agree to 30 Million-Barrel Output, Delegate Says


By Ayesha Daya

(Bloomberg) -- Members of the Organization of Petroleum Exporting Countries including Iran and Venezuela are in agreement that the group should set a production ceiling of 30 million barrels a day, an OPEC delegate said.

The group may not allocate individual quotas to each of the 12 nations because there may be disagreement on how the total oil output should be distributed, the person said, declining to be identified because the matter hasn’t been decided.

To contact the reporter on this story: Ayesha Daya in Dubai at adaya1@bloomberg.net

To contact the editor responsible for this story: Raj Rajendran at rrajendran4@bloomberg.net

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