members said March 11 they would stick with their current crude
oil production quotas but pledged to boost output in case of any
serious disruption, The Associated Press reported.
of the Organization of Petroleum Exporting Countries ruled out formally
raising output now as a way of reassuring nervous markets before
any U.S.-led attack on Iraq.
they didn’t mention such a conflict as a likely source of disruption,
apparently wary of seeming to support a war by preparing to respond
to its possible impact. Despite sharply higher oil prices, OPEC
members argued the world has enough crude to meet demand.