OPEC Heading for Deal on 30 Million bpd Oil Target

Dec. 05, 2011 11:45AM PST

Reuters reported that OPEC oil producers are looking forward to the mid-December meeting to agree a new production target to discuss the current cartel output at 30 million barrels a day.

As quoted in the market news:

OPEC sees average 2012 demand for OPEC crude at 30 million bpd compared to 29.8 million bpd from the U.S. Energy Information Administration and 30.4 million bpd from the Paris-based International Energy Agency.

Click here to read the full Reuters report.