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    OPEC moves to bridge Saudi-Iran rivalry

    By GEORGE JAHN | Associated Press – Thu, Jun 14, 2012

    VIENNA (AP) — Angola's oil minister is suggesting that OPEC will maintain present output levels as it seeks to lessen Saudi-Iranian rivalry.

    Jose Botelho de Vasconcelos says "consensus .... is the goal of our organization."

    That suggests the ministers are moving toward maintaining the status quo as middle ground between Saudi efforts to increase production and an Iranian push to cut output.

    The minister spoke to reporters Thursday ahead of a meeting of the 12 oil ministers of the Organization of the Petroleum Exporting Countries focused on price and production targets.

    Referring to the existing output target of 30 million barrels a day, he said "I think this ceiling is good."

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