OPEC: Oil market is in balance

Note: This section contains information in English only.
Source: Marketwatch
© Scanpix/AP

There is a balance on the crude oil markets and the current price level is comfortable, reports OPEC. The OPEC group members are planning to meet on the 14th of December in Vienna to discuss future prospects. The meeting will be in a positive atmosphere as the situation in the global market improved, said  Abdalla Salem, OPEC secretary. However, OPEC is likely to decrease output in the next year because of unstable situation in the world, said El Badri, Iraq's oil minister.

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