VIENNA: The outcome of this week’s Opec meeting remains to be decided, Saudi Arabia’s oil minister said Tuesday amid widespread expectations that the cartel will keep production levels unchanged.

“We have a meeting on Friday. We will discuss all these issues and then decide... We will listen and then decide,” Ali al-Naimi told reporters as he arrived in Vienna before Friday’s gathering.

At the meeting, the 12 members of the Organization of the Petroleum Exporting Countries are expected to leave their collective output ceiling at 30 million barrels per day.

This is despite the fact that oil prices are currently languishing around $40 a barrel, down from over $100 in mid-2014, due to a massive production glut. Opec’s strategy, driven by kingpin Saudi Arabia, is instead aimed at maintaining market share and squeezing US producers of shale oil, which have much higher production costs, experts say.

Published in Dawn, December 2nd, 2015