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Saudi minister: OPEC keeps output steady

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[May 28, 2009]  VIENNA (AP) -- Saudi Arabia's oil minister says OPEC has decided to keep production targets unchanged.

The decision has been made by a meeting of oil ministers of the 12-nation production group.

Saudi oil minister Ali Naimi told reporters that the minister had decided to "stay the course."

The decision Thursday appeared due to optimism that improving world economies will boost demand for oil.

[Associated Press]

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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