OPEC insists it lacks capacity to raise supply quotas

OPEC does not have the oil production capacity to enable it to lift supply quotas at next week’s meeting in Iran, Algeria’s energy minister, Chakib Khelil, said on Thursday.
Meanwhile, the National Iranian Oil Company hiked free-on-board prices to Kharg Island in the Gulf for both Iranian Light and Iranian Heavy by $1.75, crude lifters in the Mediterranean said.
OPEC does not have the oil production capacity to enable it to lift supply quotas at next week’s meeting in Iran, Algeria’s energy minister, Chakib Khelil, said on Thursday.
Meanwhile, the National Iranian Oil Company hiked free-on-board prices to Kharg Island in the Gulf for both Iranian Light and Iranian Heavy by $1.75, crude lifters in the Mediterranean said.

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