22nd May 2009 - OPEC set to keep output steady after oil price rise

At the forthcoming meeeting of OPEC on 28 May, the consensus view is that the organisation will hold production steady. Oil has risen from a low point in December to more than US dollars 60 a barrel now. This is a price that is acceptable to most Opec members and is 10 dollars a barrel above the minimum price that Saudi Arabia has said, in the current economic climate, it could live with.