OPEC looks set to maintain quotas

09 December 2010

Organisation of Petroleum Exporting Countries (OPEC) to shift focus on conforming to production ceilings

Analysts have said that the Organisation of Petroleum Exporting Countries (OPEC), which accounts for 40 per cent of global supply, is expected to maintain the limits set in 2008 when representatives gather in Quito, Ecuador on 11 December, Bloomberg has reported. Instead of changing quotas, OPEC is likely to focus on efforts to conform to production ceilings, according to Shokri Ghanem, chairman of Libya’s National Oil Corporation.

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