But large stockpiles built up by consuming nations, including the United States, should limit price increases in the near future, said Sandra Kaul, an analyst in New York with Shearson Lehman Brothers.
Facing increased political pressure from consuming nations to bring oil prices down, producers are pumping close to their capacity to allow refiners and other buyers to increase supplies in anticipation of summer and winter peaks in demand.
Last week he closed the tap on the 2.3 million barrels a day of oil that Baghdad exports when consuming nations rejected his demand for a 50-cent-a-barrel surcharge over U.N.-administered prices.
OPEC has been facing mounting criticism from consuming nations, especially in Europe, which has been asking OPEC to act more forcefully, regardless of the refining constraints.
Territorial changes that don't consume whole nations or produce new ones are not considered.
He stopped short of endorsing price fixing, however, saying he was concerned only with ensuring stable supplies for consuming nations.
She consumes nations and spits out nothing but bones.
In recent weeks oil inventories held by consuming nations fell sharply.
The moves come in response to pressure from consuming nations that are increasingly concerned about the effect of high prices on their economies.
The civil wars that consumed nations around the globe during the 60's and 70's became proxy battles for the two great powers, making impossible the cooperative effort required for peacekeeping.
