OPEC Ministers Favor No Output Change

OPEC officials said all OPEC ministers are in favor of leaving oil production levels unchanged at an extraordinary meeting of the cartel scheduled for next month.

Venezuelan Energy and Mines Minister Ali Rodriguez, currently OPEC president, said oil prices were behaving as he expected since the cartel imposed a target price band in March.

Rodriguez said he did not expect any change in the band's $22 to $28 per barrel range for the OPEC export price basket this year.