Angolan minister: Don't expect early OPEC meeting

Angola's oil minister said the turmoil in Gaza is no reason for an early OPEC meeting.

Oil exporters were still evaluating their production cuts of 4.2 million barrels per day since September, Jose Maria Botelho de Vasconcelos told The Associated Press late Friday. The global recession is dampening oil demand.

Botelho de Vasconcelos said a meeting before OPEC's next ordinary gathering in March, barring something unexpected that substantially affects markets, "is for the moment out of the question, even with the (Gaza) crisis."

Oil prices had briefly risen on worries the conflict could engulf the oil-rich Middle East.

Israel launched an offensive on Dec. 27 to halt years of Palestinian rocket attacks. Palestinian civilian casualties have been high.

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