OPEC member countries are likely to leave oil output targets unchanged when OPEC meets later in March 2010, Libya’s top oil official Shokri Ghanem, the chairman of Libya’s National Oil Corporation said on Monday. “You cannot take a decision based on this volatility,” he said of oil prices. “It is not a real trend, it is reflecting the uncertainty in the market.” He cited tension between Iran, the world’s fourth largest oil exporter and an OPEC member and the West over Tehran’s nuclear programme as a factor boosting prices. “The price is around $80. It is expected to move a little bit upwards, but once again it’s not because of the fundamentals in the market.” OPEC oil supply was mired by drastic crude reductions aimed at stabilising crude oil prices. For 2009, total OPEC supply declined 2.3 million barrels per day, a 6.4% decrease from 2008 levels, to end at 33.3 million barrels per day. OPEC members oil output in Feb 2010 hits 14 month high Ecuador says OPEC has not discussed March oil output change Ecuador’s Pinto says OPEC oil output to remain unchanged OPEC could cut oil output if prices fall below $70 US OPEC worried about member’s oil production targets Libya says OPEC needs more compliance with oil targets The run up to OPEC’s December oil output meeting Latest OPEC report says 2010 oil forecast to be trimmed OPEC member oil output hits 2009 high in December OPEC keeps oil output unchanged in December meeting Oil prices trading above $80 on higher 2010 forecasts Crude oil ends weeks trading higher, back near $80 OPEC member states get visit from US Energy Secretary Peak demand for oil is alarming says Saudi Arabia OPEC member Iran begins drilling oil well in Caspian Sea Morgan Stanley forecast oil prices trading at $110 in 2010 IEA to Meet CFTC and OPEC on curbing oil price speculation IEA cuts non OPEC oil forecast on lower Azerbaijan production Oil prices to be trading above $90 a barrel says Citigroup Asia executives looking to $90 plus 2010 crude oil prices <\/p>\n