Oil Up, OPEC Says Pumping Near Full Tilt

Prices are barely $7 below record peaks struck last month, even though OPEC producers have ramped up output to build a cushion of oil stocks ahead of an expected fourth quarter demand surge.

“I think now we are dealing with the production without the quotas,” said Kuwaiti oil minister Sheikh Ahmad al-Fahd al-Sabah, also OPEC President.
Reuters via ABC News