LONDON, June 16: Oil prices were mixed after Opec vowed to eliminate overproduction to stick by its output ceiling and boost its members' revenue.

The Organisation of Petroleum Exporting Countries decided on Thursday in Vienna to cut total production by 1.6 million barrels per day to meet the group's 30 million bpd production ceiling. Smaller output could meanwhile give a boost to prices.

Brent crude oil has tumbled from $128 a barrel in early March to below $100 on expectations of weaker demand caused by the eurozone's troubles and a slowing Chinese economy.

Opec Secretary General Abdullah El-Badri said that the world economy would not be threatened by oil prices as high as $110 a barrel, despite fears among consumers that more expensive crude would hinder global economic recovery.

“$110 dollars a barrel is not a threat for world economic growth,” El-Badri told journalists in Vienna on Friday.

Opec, whose members include Saudi Arabia, Iran and Nigeria, pumps out about one third of the world's oil.—AFP