Higher Output May Not Ease Prices – OPEC

OPEC producers, considering lifting oil output limits, said on Monday they had little left in their armory to rein in prices now at $54 a barrel.

The Organization of the Petroleum Exporting Countries is struggling to contain prices that it worries are too high for the economic growth required to sustain rising world energy consumption.

It is operating close to full crude production capacity and can do nothing to combat a global squeeze on refined products, particularly diesel.
ABC News