OPEC decides to maintain oil production
Azerbaijan, Baku, March 15 / Trend , A.Alasgarov/
At today's meeting in Vienna, the OPEC decided to maintain oil production.
At a meeting in December 2008, the OPEC decided to reduce oil production by 4.2 million barrels per day from Jan. 1, 2009, compared to September's production. Since early 2009, the OPEC reduced oil production by 2.2 million barrels per day. That is a record decline in the history of the cartel.
The main reason for the decline is to maintain world oil prices, which have fallen by over $100 from the record level of $147 per barrel in July.
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