OPEC producers agreed on Wednesday to keep oil supplies unchanged, a senior cartel delegate said, rebuffing consumer country calls for more crude to bring prices down from nearly $90 a barrel.
The Organization of Petroleum Exporting Countries also agreed to meet again at the end of January to review its decision, ahead of a regular March gathering, another delegate said.
Ahead of the meeting, ministers said they saw no reason to lift output because they were already pumping enough crude to meet winter fuel demand.
"We've seen nothing yet to justify an increase or a decrease," said powerful Saudi Oil Minister Ali Naimi.
"Our position is that demand and supply are balanced and there is no need to increase oil to the market," said Iranian Oil Minister Gholamhossein Nozari.
OPEC began its closed policy-making session at 8 am London time.
