OPEC ministers announced that they would maintain production to fill in the short supply of oil from Nigeria , Iraq and any other supply gaps. OPEC ministers agreed that they would keep prices from rising to $70 per barrel; at which it could hurt global economic growth. The decision was announced following the meeting, which was held to discuss OPEC's output in the second quarter. Apparently, there were disagreements over the issue amongst member states. Kuwaiti Oil Minister Sheikh Ahmad al-Fahd al-Sabah said that OPEC would work to bring oil prices below $60 per barrel. Saudi Arabia , Iran and the UAE also favoured leaving OPEC's production ceiling near at its current level. However, Venezuela was keen to reduce production by 500,000 barrels per day
Middle East and Africa round-up