Qatar warns against production increases

Qatar’s Oil Minister Abdullah bin Hamad al-Attiyah warned Sunday that OPEC shouldn’t raise production just for “increase’s sake,” saying there were indications that oil prices were decreasing because of low demand.

Ministers from the Organization of Petroleum Exporting Countries meet Monday in Vienna to discuss ways of stabilizing the market after Hurricane Katrina drove prices to new highs — including possibly raising the group’s production ceiling by 2 percent.

Businessweek