USA Ask OPEC to Raise Output

Spencer Abraham, US Energy Secretary, at the yesterday meeting with Algerian Oil Minister Chakib Khelil requested that OPEC produce more crude to help petroleum prices down.

Khelil said he would convey the US' request to other OPEC ministers at the nearest meeting of the cartel. Khelil said OPEC was "most likely" to meet informally at a producer-consumer summit in Amsterdam in two weeks to review the world oil market.
OPEC's next formal meeting is to be held on June 3 in Beirut. Khelil also said world crude markets were properly supplied, blaming high prices on geopolitical issues, market speculation, and strong demand,
particularly from Asia.
Khelil also said OPEC is still committed to its $22-$28/bbl price band despite some talk among ministers the target could be raised.