OPEC has announced that the production ceiling will remain unchanged at 30 million barrels a day. OPEC output for the month of May was above the production ceiling at 31.75 million barrels a day. Global economic growth concerns were a contributing factor in leaving the production ceiling at the current level. Crude oil traded slightly above $84 a barrel.
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http://articles.marketwatch.com/2012-06-14/markets/32218693_1_opec-official-ceiling-jobless-claims
Jim Sutliff