OPEC Keeps Production Up; U.S. to End Some Oil-Price Reporting

Click here to write a Letter to the Editor.

PEC ministers have agreed to leave the cartel’s output ceiling unchanged, and the United States said it would end some routine oil-price reporting, Bloomberg reported Monday.

OPEC ministers met informally in Qatar, in a side meeting to the International Energy Forum, a gathering of more than 50 oil producing and consuming nations, Bloomberg said. Both the United States and Iran attended the three-day IEF, which ended Monday.

Meanwhile, the U.S. government said that starting in July it will no longer issue two periodic statistical petroleum reports, Bloomberg said.

The Energy Department’s Energy Information Administration will no longer issue reports on domestic crude prices and the cost of foreign oil imports, Bloomberg reported.

EIA does not have enough money to continued the reports and maintain the quality of its other reports, EIA Administrator Guy Caruso said, according to Bloomberg.

The International Energy Agency, which represents 26 oil-consuming countries, urged the United States to continue the reports to ensure good data, Bloomberg said.