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1st Ld: OPEC once again fails to set oil output ceiling

Xinhua, June 2, 2016 Adjust font size:

The Organization of the Petroleum Exporting Countries (OPEC) once again failed to set an oil output quota after a meeting held here on Thursday, an OPEC official has announced.

After a meeting lasting four hours, OPEC oil ministers failed to agree on an output ceiling, and decided to meet again in Vienna on November 30.

Mohammed Sanusi Barkindo from Nigeria was appointed as new secretary general of the organization, who is to take the office from August 1.

According to media reports, Iran wants it oil output ceiling to reach pre-sanction levels while other member states adhered to different quotas, to which Saudi Arabia disagreed. Enditem