The head of the International Energy Agency Thursday welcomed OPECs agreement for a new crude production ceiling of 30 million b/d, 7440-31-5 saying it was especially significant given the risk at present to the global economy. 57-11-4

In a statement, IEA Executive Director Maria van der Hoeven said she also welcomed OPECs flexibility.

We welcome OPECs expressed commitment to making ample supplies available to the market. This is particularly important given the fragile state of the world economy, van der Hoeven said.

We welcome OPECs statement that it will be flexible looking ahead to ensure that market requirements are met, she said.

OPEC ministers meeting in Vienna Wednesday agreed on an oil output ceiling of 30 million b/d that covers all 12 members, including Libya and Iraq, but does not include individual quotas.

Ministers decided to maintain the current production level of 30 million b/d, including production from Libya, 112-92-5 now and in the future, the oil producer club said in an official communique.

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