ALGIERS, Dec. 20 (Xinhua) -- The Organization of the Petroleum Exporting Countries (OPEC) is likely to leave the daily production quota of crucial oil unchanged, said Algerian Energy and Mines Minister Chakib Khelil on Sunday.
OPEC's 12 member countries will hold a meeting on Tuesday at ministerial level in Luanda, the capital of Angola, to discuss the current status of the international oil market and the bloc's future policies on oil production.
"There will be no change in OPEC supply of crude oil. OPEC will not reduce supply and it will not increase supply," Khelil said before leaving for Luanda.
OPEC countries produce more than a third of the world's crude oil. At the end of last year when the oil price collapsed, they decided to cut oil production by 4.2 million barrels per day.
On an inspection tour to Province Guelma in Eastern Algeria last week, Khelil noted that OPEC would not raise its crucial oil outputs as of 2012, stressing that excess supply might lead to an unbalanced market.
Among the 12 members of the bloc, it is reported that the oil ministers of Iran and Kuwait will not attend Tuesday's meeting, and the two member countries will be represented by delegates.
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