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OPEC output unchanged

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OPEC output unchanged

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OPEC members have agreed to hold their output targets steady.

At the group’s meeting in Vienna, its top exporter Saudi Arabia said economic strength should bolster crude prices. Saudi Oil Minister Ali al-Naimi indicated OPEC is happy with current level of prices, just over 71 dollars a barrel. Analysts said OPEC, which supplies more than a third of the world’s oil, is still wary of acting too aggressively and damaging a global economy that is still recovering.