VIENNA, March 15 (Reuters) - The Organization of the Petroleum Exporting Countries on Sunday agreed to keep existing output quotas intact, but said it would abide by them more strictly and called another meeting on May 28.
The following are a series of analyst views on the decision.
DAVID FYFE, HEAD OF THE OIL INDUSTRY AND MARKETS DIVISION AT THE INTERNATIONAL ENERGU AGENCY
"I think generally speaking it's a sensible decision and one that the IEA could welcome given the strains that are being faced by the global economy.
"The last thing we need in the short term in an abrupt surge in oil prices."
PHIL FLYNN, ALARON TRADING, CHICAGO
"It looks like OPEC is finally kicking in with their economic stimulus. It's about time.
"I think the Saudis had their way. They were tired of carrying the load for the cartel.
"Other factors that might have influenced the Saudis were a stronger dollar and pressure from the Obama administration.
"This cut will lead to lower prices, but I think the stimulus to the economy wil help increase demand for oil down the road."
OLIVIER JAKOB, PETROMATRIX
"If there is a time to implement a new cut, it is now and not when the market would be back to $35 a barrel. If OPEC cuts now, it is keeping the upper hand, if it sticks to compliance then it is leaving the upper hand to the market."