Angola satisfied with current oil prices, sees no OPEC output change

Vienna (Platts)--10Jun2014/659 am EDT/1059 GMT

Angolan oil minister Jose Maria Botelho de Vasconcelos said Tuesday he was satisfied with current crude oil prices and that he expected OPEC to maintain its output ceiling at 30 million b/d at talks in Vienna on Wednesday.

"Prices are OK. We don't expect anything to happen at this meeting," he told reporters on arrival in the Austrian capital.

"I think the price is good, Brent is at $110/b, so it's good for us," Vasconcelos said.

"The market is OK, OPEC is producing 29-30 million b/d. It's not bad. I think our meeting will be very quiet."

Key OPEC ministers, including Ali Naimi of OPEC kingpin Saudi Arabia, have already said there is no need to change output policy.

--Staff report, newsdesk@platts.com

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