OPEC members will meet today in Vienna to discuss the current situation on the world crude oil markets
OPEC members will meet today in Vienna to discuss the current situation on the world crude oil markets and decide whether to increase output by 500,000 barrels per day because of political pressure and ever high oil prices in the wake of Hurricane Katrina damage.
Opec has warned it must not hurt its markets by creating an oil surplus.
Some member countries such as Venezuela, doubt whether extra production will ease high fuel prices because of problems with refining capacity.
Opec head Sheikh Ahmad al-Fahd al-Sabah said many members were worried they would give too much importance to the demands of consumer countries.
"There are fears in the oil markets of the continued supplying of markets with crude oil although there's a big surplus; there are quantities that the market cannot absorb, there is no buyer," said Sheikh Ahmad, who is also Kuwaiti oil minister.
