Opec was urged to maintain its current production level of more than 30m barrels of oil a day through all of 2012 by the Western countries’ oil watchdog to help rebuild depleted reserves following a year of upheaval in the Middle East.
The call from the International Energy Agency comes as ministers from the oil cartel gather in Vienna for a meeting on Wednesday to discuss production and consider growing fears of a global economic slowdown with oil prices still above $100 a barrel.
The Paris-based IEA said that Opec production surged in November to the highest level in more than three years to 30.7m b/d, boosted by higher supplies from Saudi Arabia and Libya, which suffered disruption earlier in the year following the civil war.
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