OPEC, producer of a third of the world’s oil, agreed to maintain its production limits and meet again to consider cutbacks to prevent a drop in prices, the group’s secretary-general said.

Opec ministers holding a crucial summit today in Qatar voted to keep production levels unchanged because of delays in the resumption of Iraqi oil exports.

THE Organisation of Petroleum Exporting Countries, supplier of a third of the world’s oil, will probably defer output cuts until later this year because prices are rising and Iraqi exports are delayed, officials and analysts said.

CRUDE oil surged to a 12-year high for the second straight session as the US and Britain continued preparations to disarm Iraq

Venezuelan army troops enraged by the killings of 12 civilians and wounding of 110 during an opposition march rebelled against President Hugo Chavez, today, seizing key installations and airports to prevent him from leaving the country.