BBC: Oil nations ‘can exceed’ quotas

Oil producers’ cartel Opec may agree at its meeting next week to allow members informally to pump above official output quotas to limit rising prices.
Opec will stabilising prices by keeping the ceiling as it is now or “allowing overproduction to continue like it did in 2004,” its president said.

bbc
But Sheikh Ahmad admitted: “I think that now everybody is overproducing. Current prices make it lucrative for everybody to hike production without the need for an (official) decision.”