But Venezuela has yet to act on its ability to increase output by 500,000 to 700,000 barrels a day.

Nigeria also could increase its output by 100,000 barrels a day.

Saudi officials said privately Tuesday that they were preparing to increase their production by two million barrels a day.

Other analysts say Nigeria might be able to increase production by as much as 300,000 barrels.

These sources expect Saudi production in the next two months to increase by 300,000 barrels a day.

It has increased by 800,000 barrels a day, roughly 5 percent, in two years.

The agreement to increase daily production quotas by 1.45 million barrels is somewhat misleading.

Saudi Arabia has increased production by more than a million barrels a day in recent months.

The institute's report asserted that a change in Federal energy policies could increase domestic production by more than two million barrels a day.

American oil consumption increased by more than 800,000 barrels a day from 1985 to 1987.