OPEC keeps output target on hold amid weak economy

Published December 12, 2012 5:11pm ET



VIENNA (AP) — OPEC ministers agreed to keep their daily crude production target unchanged at a meeting Wednesday. But in a sign of internal rivalries, they failed to reach consensus on a new secretary general, a post sought by Saudi Arabia, Iran and resurgent oil-power Iraq.

The agreement to leave the production ceiling at 30 million barrels a day was expected. Actual output, however, is a million barrels higher because some countries produce above their limits.

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