“We will keep the decisions that were taken in the past about production quotas and maintain the quotas unchanged,” de Vasconcelos told the Luanda-based broadcaster.

OPEC members are scheduled to meet on Dec. 22 in the Angolan capital, Luanda, to review production quotas that the group left unchanged at three gatherings in 2009. OPEC last agreed to increase supply targets in September 2007.

De Vasconcelos, whose tenure as the OPEC president ends this month, told Radio Ecclesia that he hopes the organization will continue to “influence” the market to end oil price volatility.