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VIENNA (Reuters) – OPEC ministers agreed on Sunday to leave existing output targets unchanged, but promised to enforce those curbs more strictly and said they would meet again at the end of May to review progress.
The decision to resist additional cuts for now reflected concern for the economy and a belief supply curbs so far have begun to remove the excess from oil markets, the Organization of the Petroleum Exporting Countries said in a communique after its nearly five-hour conference.