Jun 14 2012
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UPDATE: OPEC Agrees To Rein In Overproduction -Secretary General
Thursday, Jun 14, 2012
(Adds comment on selection of OPEC secretary general)
By Hassan Hafidh and Nicole Lundeen
VIENNA--OPEC has agreed to adhere to its previously approved oil-production ceiling of 30 million barrels a day, and as such, the group agreed to rein in its combined 1.6 million barrels a day of overproduction, Secretary General Abdalla Salem el-Badri said Thursday after the group's policy meeting.
When asked if members have individual production quotas, Mr. el-Badri said: "Every country knows its number."
Mr. el-Badri said they discussed the appointment of a candidate to succeed him when he steps down as secretary general at the end of the year.
Write to Hassan Hafidh at email@example.com and Nicole Lundeen at firstname.lastname@example.org
(END) Dow Jones Newswires
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