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survey guide

2/5/2007 - opec

DISPLAYING ABSTRACT - OPEC ministers will keep oil production at current levels; decision comes despite calls to pump more supplies into market that is becoming increasingly tight; holding output steady could send oil prices higher this spring as demand for gasoline picks up; OPEC's secretary general Abdalla Salem el-Badri says market is stable and healthy; Iraq Oil Min Hussain al-Shahristani tells reporters that Iraq will offer first round of bidding for oil projects in second half of year once oil law, drawn up by Council of Ministers, receives Parliament's approval; oil futures close at $57.55, down 0.6 percent, in New York trading; International Energy Agency says demand is expected to increase by 1.5 million barrels to 86 million barrels per day, 1.8 percent increase from 2006; OPEC, in its final statement, says global economic growth will remain 'relatively firm' this year, although at lower level than last year, and notes that higher interest rates have cooled global economy

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