OPEC retains production target

It’s 30 million barrels for fifth time despite rising demand

Posted: June 12, 2014 at 3:09 a.m.

An welder works on a pipeline in the desert oil fields of Sakhir, Bahrain, at sunset on Tuesday. OPEC’s oil ministers voted Wednesday to maintain a production target of 30 million barrels a day.

OPEC, which supplies about 40 percent of the world's crude, decided Wednesday to keep its production target unchanged at 30 million barrels a day, a decision that was widely expected.

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