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OPEC May Increase Production to Control Prices

05-10-2008

NOC Libya Chairman, Shokri Ghanem said the Organization Of Petroleum Exporting Countries could meet before September to consider increasing crude output in an attempt to control oil prices.

He said in an interview, "We would consider, among other options, the possibility of increasing output as a way to ensure market stability."

"I expect a meeting before September," Ghanem said, according to the report, adding that while he was not calling for a meeting, he would support one. OPEC is currently scheduled to meet on Sept. 9 in Vienna.