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    OPEC keeps production target at 30m barrels

    LONDON — With the price of oil relatively strong, OPEC decided Friday to maintain its current target for oil production at 30 million barrels per day, a move that was expected by the markets.

    The price of Brent crude oil, the European benchmark, has recently hovered around $100 a barrel, a level that met with the approval of most members of the Organization of the Petroleum Exporting Countries, meeting in Vienna.

    At a news conference following the meeting, the OPEC secretary general, Abdalla S. el-Badri, waved off a suggestion that the $100-per-barrel level was acting as a drag on the world economy, arguing that much of the eventual price at the pump was because of taxes, not the crude oil itself.

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    For US drivers, increased drilling in the United States and sluggish demand in Europe are putting pressure on global oil prices and have brought a modest amount of relief. The price for an average gallon of regular gasoline in the United States on Friday was $3.61, a drop of four cents from a week ago, according to AAA.

    New York Times