IEA:Opec decision is sensible

Opec’s decision to hold oil output targets steady is a sensible decision in the light of the economy, which remains fragile, the International Energy Agency (IEA) said yesterday. As widely expected, at a meeting ending early yesterday, the Organisation of the Petroleum Exporting Countries (OPEC) saw no need to change production formally, although some OPEC members called for stricter compliance with existing curbs.