December 23, 2009 -- The Organization of Petroleum Exporting Countries (OPEC) would keep its current oil production levels, the Venezuelan Energy and Petroleum Ministry announced Tuesday.

The ministry said the 155th OPEC ministerial meeting in Luanda, Angola decided to keep its production quota unchanged in light of ongoing weakness in the world economy.   

It said world oil demand fell for the second consecutive year, the first time that had happened since the 1980s, and, while the worst of the global financial crisis appeared to have passed, the global economy remained mired in its deepest contraction since the1940s. 

In order to keep the oil market stable, the OPEC meeting repeated its call to non-OPEC oil producers and exporters to cooperate with the organization to help re-balance the market, said the ministry. (Xinhua)