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1st LD Writethru: OPEC keeps output ceiling at 30 mln barrels per day

Xinhua, June 5, 2015 Adjust font size:

OPEC decided to maintain its production ceiling at 30 million barrels a day in the cartel's meeting here on Friday.

The decision shows that the cartel sticks to its strategy of unconstrained oil production, which seeks to fight for its market share and curb production from high-cost U.S. shale instead of bolstering the oil price by cutting output.

OPEC refused to cut its output in the November meeting last year.

The cartel signaled it would not cut output alone without a coordinated production reduction with other None-OPEC oil producers. Endit