OPEC Vows to Keep Market Supplied

OPEC assured world oil markets on Sunday that it was keeping them well supplied and holds enough production in reserve to meet higher demand this winter.

Cartel chief Sheikh Ahmad al-Fahd al-Sabah also said OPEC was unlikely to raise its formal limits on output to match the actual supply of 30 million barrels per day (bpd) and again suggested an official 27.5 million ceiling was irrelevant for now.
Reuters via iWon