ALGIERS - OPEC will keep its supply level unchanged when it meets on Tuesday in Angola, Algeria's Energy Minister Chakib Khelil said on Sunday.
"There will be no change in OPEC's supply of crude oil. OPEC will not reduce supply and it will not increase supply," Khelil told reporters.
The oil price is currently close to the $75 per barrel top exporter Saudi Arabia and others have said is fair to both consumers and producers.
After global recession triggered a sharp decline in oil use last year, the producer group agreed to slash 4.2 million barrels per day -- a record reduction equivalent to around 5 percent of global daily consumption.
OPEC delivered about 80 percent of those cuts earlier this year, but compliance has slipped to around 60 percent as the oil price has recovered.
Still, core Gulf OPEC members, led by Saudi Arabia, have been the most disciplined, and would likely shoulder the biggest share of any further cut, analysts said.
"There will be no change in OPEC's supply of crude oil. OPEC will not reduce supply and it will not increase supply," Khelil told reporters.
The oil price is currently close to the $75 per barrel top exporter Saudi Arabia and others have said is fair to both consumers and producers.
After global recession triggered a sharp decline in oil use last year, the producer group agreed to slash 4.2 million barrels per day -- a record reduction equivalent to around 5 percent of global daily consumption.
OPEC delivered about 80 percent of those cuts earlier this year, but compliance has slipped to around 60 percent as the oil price has recovered.
Still, core Gulf OPEC members, led by Saudi Arabia, have been the most disciplined, and would likely shoulder the biggest share of any further cut, analysts said.
