OPEC ministers are expected to keep the cartel's oil output levels unchanged when they meet in Vienna on Wednesday.

The output of the Organization of the Petroleum Exporting Countries (OPEC) has consistently been more than 28 million barrels per day, and often close to 30 million a day, figures have shown.

Despite calls from Venezuela for the group to look at reducing production by 500,000 barrels daily, many other OPEC countries, including Saudi Arab, Kuwait and Nigeria, have vowed not to change crude output levels amid fears that any decline may push up prices.

Analysts warn that high oil prices could dent the global economy at a time of increased demand.

On Tuesday, OPEC's key advisory committee, comprising Nigeria, Iran and Kuwait, issued a recommendation for the cartel to maintain the current quota level.

Source: Xinhua