Official: OPEC Has Reached Output Limit

“OPEC has reached its production limits. It doesn’t have much production capacity,” he said at the opening of an industrial plant in the western town of Arzew, according to newspaper reports on Saturday.

“If it came to a crunch, it has capacity for one million barrels (more per day), and I don’t think a production increase would influence the barrel price,” he told reporters on the sidelines of the ceremony.