OPEC Agrees to Keep 30 Million Bpd Oil Target: Delegates

Wednesday, 12 Dec 2012 | 7:39 AM ET
Tyler Stableford | Image Bank | Getty Images

OPEC agreed on Wednesday to hold its oil production limit unchanged at 30 million barrels a day, delegates at the meeting said.

Ministers of the Organization of the Petroleum Exporting Countries continued in closed session to debate who should be the group's next secretary general.

OPEC: Oil Price Will Stay the Same
Abdalla Salem El-Badri, OPEC's Secretary General, tells CNBC that there are a lot of contradictory factors in the global economy that can affect the oil price but he expects it to say the same.

They were divided over candidacies from Saudi Arabia and Iraq. Iran which also fielded a candidate agreed to back the Iraqi nomination, delegates said.

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