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World

Oil ministers from OPEC countries signal they will keep production target steady at meeting

Associated Press
Published | Updated
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    Mohammed Bin Saleh Al-Sada Minister of Energy and Industry of Qatar arrives at a hotel for a meeting of the Organization of the Petroleum Exporting countries, OPEC, in Vienna, Austria, Tuesday, June 10, 2014. (AP Photo/Ronald Zak) (The Associated Press)

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    Image 2 of 3

    Mohammed Bin Saleh Al-Sada Minister of Energy and Industry of Qatar arrives at a hotel for a meeting of the Organization of the Petroleum Exporting countries, OPEC, in Vienna, Austria, Tuesday, June 10, 2014. (AP Photo/Ronald Zak) (The Associated Press)

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    Image 3 of 3

    Mohammed Bin Saleh Al-Sada Minister of Energy and Industry of Qatar arrives at a hotel for a meeting of the Organization of the Petroleum Exporting countries, OPEC, in Vienna, Austria, Tuesday, June 10, 2014. (AP Photo/Ronald Zak) (The Associated Press)

VIENNA – OPEC oil ministers are signaling that the 12-nation cartel will keep its output target at 30 million barrels a day at their meeting Wednesday — even though demand could rise later this year.

The International Energy Agency sees the world's appetite for crude growing in months ahead. But many OPEC members are at production capacity limits.

Additionally, sales from Iran, normally among the 12-nation organization's top producers, are severely crimped by sanctions imposed over its nuclear program. And internal conflicts and domestic chaos have slashed Libya's exports.

Angolan oil minister Jose Maria Botelho de Vasconcelos said Tuesday the meeting could decide to extend the present target of 30 million barrels a day.

OPEC powerhouse Saudi Arabia, however, is expected to unilaterally boost production if called for by demand.