1. Before Chavez reined in production, Venezuela regularly ignored OPEC output quotas. 2. In Jakarta, the Organization of Petroleum Exporting Countries will continue meeting tomorrow to consider raising its output quota. 3. On other markets, crude oil was little changed after OPEC ended its biannual meeting without changing its output quota. 4. The Organization of Petroleum Exporting Countries agreed in November to raise its output quotas slightly, and demand for heating fuels has been low this winter. 5. Two days ago, Agahazadeh suggested OPEC redistribute output quotas to accommodate Iraq. 6. Chavez said Venezuela instead will recommend that the Organization of Petroleum Exporting Countries be more strict about complying with current output quotas. 7. He also repeated his earlier assessment that OPEC would leave its output quota unchanged. 8. He called for all oil producers to stick to their output quotas to halt the current slide in prices, the agency said. 9. In a news release, the department noted that the Organization of Petroleum Exporting Countries decided Wednesday to maintain its output quota in the third quarter. 10. OPEC boosted its output quotas four times last year to counter high oil prices. |