Oil prices rose sharply on Wednesday after OPEC agreed to keep output levels unchanged at its meeting in Abu Dhabi, despite consumer country demands for more oil to dampen prices now near $90 a barrel.
Nigerian oil minister Odein Ajumogobia said OPEC had agreed to keep supplies unchanged and would review this again in February.
The Organization of the Petroleum Exporting Countries stuck by its view that the group is already producing enough oil to cope with winter fuel demand after an agreement in September to boost output.
"Our position is that demand and supply are balanced and there is no need to increase oil to the market," said Iranian Oil Minister Gholamhossein Nozari....MORE
