OPEC is unlikely to change its production quotas at a meeting next week in Quito, Ecuador, Libya’s top oil official, Shokri Ghanem, said today.
Oil ministers from the Organization of Petroleum Exporting Countries will seek tighter compliance with the existing output guidelines, Ghanem said in Doha.
OPEC, which produces about 40 percent of the world’s oil, hasn’t changed quotas since agreeing to its biggest-ever cuts in production in December 2008.