P.M. BRIEFING : Oil Production Curbs Likely to Last
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VIENNA — OPEC ministers winding up a two-day strategy session today indicated that cartel members plan to stick to its current production restraints through mid-year.
Indonesia’s Subroto, secretary general of the Organization of Petroleum Exporting Countries, said the meeting of the cartel’s eight-member monitoring committee was held in a “very frank, good atmosphere” but he declined to provide details.
The ministers, he said, renewed their intention to “adhere very strictly” in the April-June quarter to last November’s agreement that called for production curbs in order to raise sagging crude prices.
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