Opec output was stable in April, as crude prices hit 18-month highs on expectations of a demand rebound. Benchmark crudes WTI and North Sea Dated have largely been above $80/bl since the end of March amid robust growth in Asia-Pacific and indications of recovering gasoline and diesel demand. Opec min- isters voiced little concern that high oil prices might have an adverse effect on the global economic recovery when crude increased above the group's favoured $70-80/bl range.
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