LUANDA, Dec. 22 (Xinhua) -- Ministers from the Organization of Petroleum Exporting Countries (OPEC) met with Angolan President Jose Eduardo dos Santos on Tuesday to brief the leader on the world oil markets and the ongoing 5th OPEC ministerial conference.

    During the meeting in Luanda, President Eduardo dos Santos stressed the need to keep a clear and attentive track of the oil markets to stabilize oil prices and to keep the prices at an acceptable level, both for the consumers and producers, said Abdullah El-Badri, secretary-general of the oil cartel.

    Speaking to reporters after the meeting, Abdalla El-Badri said President Eduardo dos Santos showed that he is well informed of the oil market just like he did in the 2007 meeting, when Angola was admitted into the OPEC.

    Abdullah El-Badri also hailed Angola's role in the past year as it held the rotating chairmanship to herald the oil cartel out of one of the most turbulent years in the international oil markets, with oil prices plunging from and all-time-high of 147.25 U.S. dollars per barrel to some 30 dollars a barrel.

    Oil prices rallied over 60 percent this year, and stood well above 70 dollars in recent weeks.

    Speaking to reporters before the OPEC meeting in Luanda, Abdullah El-Badri said OPEC would not make changes to the production level, because the current prices are considered acceptable, and the prices staying at the 75 dollars per barrel was "excellent".

    OPEC, which accounted for some 40 percent of world market, maintains its output level at 24.84 million barrels per day since Jan. 1 this year.

    Currently OPEC groups Angola, Algeria, Libya, Nigeria, Venezuela, Ecuador, Saudi Arabia, United Arab Emirates, Iran, Iraq, Kuwait and Qatar.

Special Report:  Global Financial Crisis