Price fear keeps Opec oil flowing

Oil group Opec will keep pumping oil at near-record levels in an effort to keep prices from spiking much higher.

Speaking ahead of Opec’s meeting in Vienna on Tuesday, members said they would leave output levels untouched.

Crude costs have been buoyed by concerns about the diplomatic row with Iran and the threat of Nigerian unrest.

Demand for oil also is outstripping supply and that is likely to continue until new investment in extraction and refining filters through this year.