OPEC should keep pumping crude at about 30 million barrels a day in the near term amid rising global supply, according to the group’s Secretary General and Saudi Arabia , its largest member. The Organization of Petroleum Exporting Countries has no reason to change the current output ceiling of 30 million barrels a day at its next meeting on June 11 because oil markets are stable, Saudi Arabia’s Petroleum Minister Ali Al-Naimi told reporters in Seoul today. Supply and demand will remain “fairly balanced” throughout the year, according to comments from OPEC’s Secretary General Abdalla El-Badri, posted on website of the International Energy Forum. “In the near term, OPEC production will remain steady around the 29-30 million barrels of oil per day level,” El-Badri said. “At present we are seeing growth in non-OPEC supply” and other producers in the group are making up for the supply shortfall from Libya, […]