Osaka meeting yields Opec output freeze

The Organisation of Petroleum Exporting Countries (Opec) will maintain its oil production quota at 21.7 million barrels a day, the 11-country cartel said at its 109th meeting in Osaka, Japan on September 19. An increase in output levels is reported to be unlikely even if the oil price strays outside the Opec target range of $22–28 for the 20-day trigger period, because many Opec ministers have said the price of oil is inflated by war fever, not tightened supplies.

Iran, Venezuela, Kuwait,

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