"What more can we do? We're (OPEC) already producing at maximum capacity," he said.
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OPEC Countries Won't Change Quotas
Saudi Arabia will support with a mighty heave keeping OPEC's quota limits unchanged
Saudi Arabia will support with a mighty heave keeping OPEC's quota limits unchanged when the members of OPEC meet in Cairo next week. Venezuela and Nigeria have also said they are happy to keep quotas.
However, Iran's OPEC governor, Hossein Ardebili, said earlier Monday that the group should enforce its output ceiling of 27 million bpd to prevent a glut. OPEC President Purnomo Yusgiantoro and Qatari Oil Minister Abdullah bin Hamad al-Attiyah have expressed concerns about the impact of the group's overproduction on prices early next year.
The Algerian oil minister dismissed comments by U.S. Secretary of Energy Spencer Abraham on Wednesday criticizing OPEC for regulating production to impact the oil price.
"What more can we do? We're (OPEC) already producing at maximum capacity," he said.
"What more can we do? We're (OPEC) already producing at maximum capacity," he said.
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