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OPEC to Maintain Oil Output of 30 Million BPD

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OPEC to Maintain Oil Output of 30 Million BPD

Despite the drastic lull in oil and gas prices, OPEC (the Organization of the Petroleum Exporting Countries) plans to keep the collective output level of 30 million barrels per day unchanged.

The decision comes as a surprise to many in the industry, as many believed it would raise the official ceiling.

This echoes the organization's November 2014 decision to maintain current output levels.