OPEC Head Says Group Won't Cut Supplies if Oil Stays at $25

OPEC Head Says Group Won't Cut Supplies if Oil Stays at $25

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OPEC's

secretary general said the group probably won't cut world oil supplies next month if prices stay around the target price of $25 a barrel.

Ali Rodriguez, the secretary general of OPEC, made the comments in a recent television interview. The OPEC members are scheduled to meet March 16 in Vienna.

The

Philadelphia Stock Exchange Oil Service Index

recently gained 1.1% to 124.94.