[originaltext] Oil prices edged higher Tuesday after ministers from the Orga

Oil prices edged higher Tuesday after ministers from the Organization of Petroleum Exporting Countries agreed to reduce output.
   OPEC ministers have decided to stop producing more than their quota of 24. 5 million barrels per day, effective immediately. The ministers also moved to lower the output quota by one million barrels per day, beginning April 1.
   Some of the ministers said the two-step cutback is aimed at keeping oil prices steady while demand for oil is expected to decline as spring comes to the northern hemisphere.
   With current demand high, OPEC countries have been exceeding production ceilings by an estimated 1.5 million barrels per day. If the cuts announced Tuesday are implemented, they would amount to a 10 percent reduction in OPEC’s oil production.
   Oil prices have surpassed OPEC’s $22 to $28 a barrel price range in recent months, and rose again on  Tuesday following the announcement of the production cuts.