OPEC will not lift output to cap oil price rise

- December 8th, 2010

Reuters Africa reports that OPEC appears unlikely to raise oil supply limits to cap an oil price rally when it meets in Quito on Saturday.

Reuters Africa reports that OPEC appears unlikely to raise oil supply limits to cap an oil price rally when it meets in Quito on Saturday.

The market news is quoted as saying:

OPEC ministers going into the Dec. 11 meeting in the Ecuadorean capital have said that the world economy can handle up to $90, increasing their previous range of prices considered acceptable for consumers.

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