MEES soundings indicate that OPEC is set to maintain its production at current levels when ministers meet in Vienna on 4 December, with kingpin Saudi Arabia setting the tone by maintaining its output at historic highs. Angola’s Minister of State for Petroleum, Octávio Teixeira da Silva, sees no need for a change in the group’s outlook ceiling, while OPEC’s Secretary General ‘Abd Allah al-Badri is satisfied with market fundamentals and prices at current levels.

Speaking on the sidelines of an African energy conference in Dubai on 23 October, Mr da Silva, said the West African producer was holding output steady at 1.7mn b/d following an earlier decline. (CONTINUED - 970 WORDS)