OPEC Holds Oil-Demand Forecast Steady

* username: rupertbu

The Organization of Petroleum Exporting Countries maintained a cautious view about world oil demand and gave no indication it might pump more crude to damp the recent rise in oil prices.

Since early March, oil has closed above $80 a barrel for all but a handful of days, leading analysts to question whether OPEC is getting more comfortable with a higher oil-price plateau. That view has gained traction following comments from some OPEC ministers in recent days that the group may stand pat even if crude-oil prices move north of $90 a barrel.

Since last year, most OPEC ministers have had an informal preference for prices between $70 and $80 a barrel, a level seen as helpful for promoting energy investment but without hitting consumers' pockets too hard.