OPEC did not change production quotas

Almaty. December 7. Silkroadnews - The Organization of Petroleum Exporting Countries (OPEC), which includes one of the world's leading producers - Saudi Arabia, could not decide to change production quotas, reports Reuters.
OPEC Secretary General Abdullah al-Badri said that members of the organization agreed to stick to existing production levels, but to approve the amount in figures was not possible due to the expected imminent return to the world market of Iranian oil.
Earlier on Friday, two sources said that OPEC, whose members produce a third of the world volume of oil, decided to increase the volume of production to 31.5 million barrels per day from the current 30 million, that is, until the actual level which is already higher than the current limit.
On the eve of the meeting, the poorer countries of OPEC pressured more influential members, led by Saudi Arabia, seeking to limit production growth in world prices.
But Riyadh and its allies from the Gulf countries have decided to adhere to the chosen strategy to protect their market share, hoping that the low oil prices will eventually supplant primary producers with high costs, including American companies producing shale oil, the report says .