Saudi Arabia should reduce its oil-production levels to allow room for Libya 's oil output to return to normal pre-war levels, Venezuelan oil minister Rafael Ramirez said Wednesday, following a meeting of the Organization of Petroleum Exporting Countries.

Asked if he was satisfied with [Saudi Arabian] production levels of around 10 million barrels a day in November, Ramirez said, "Their overproduction has to reduce in order to open the space for Libya ."

Describing the OPEC meeting Wednesday, Ramirez said, "It was a very good meeting."

The oil exporters' group agreed on an OPEC production ceiling of 30 million barrels a day, Ramirez said.
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