OPEC resisted the temptation to meddle with its first half production ceiling of 22.1 million b/d or its price target of $18/bbl. Under pressure, notably from Iraq to press for a $20/bbl crude price, the ministerial monitoring committee meeting in Vienna opted to leave last November's production and pricing pact untouched until the next ministerial meeting May 25. Although no action was taken, Iraq's proposal for higher prices attracted widespread support. However, the prospect of

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