Delegates of the Organization of the Petroleum Exporting Countries agreed to roll over the group’s production quota, maintaining the group’s current official production output. The decision comes despite concerns over adequate global supply. Libya has struggled to lift its output amid political turmoil in the country. Meanwhile, global growth—and by extension, oil demand—has been picking up. OPEC, which is holding its semiannual meeting in the Austrian capital, agreed to keep its official output quota at 30 million barrels a day, delegates said. OPEC produces about one in three barrels of the world’s crude. Oil prices had been rising most of Wednesday on the expectation the cartel would keep output steady and amid fresh violence in Iraq. Militants there earlier this week overran one of Iraq’s key cities, Mosul, threatening the security of the country’s northern oil fields. By early afternoon in Europe, benchmark U.S. oil for July delivery was […]