Analysts said that an increase of 700,000 bpd would only add an estimated 200,000 fresh bpd to the market. This is because OPEC's 11 members are already exceeding their quotas by a total of roughly 500,000 barrels a day. After the first production boost three months ago, world oil prices fell briefly, but soon began to creep up again. Opec countries currently produce 24.7 million barrels of oil daily. Opec members are Saudi Arabia, Iran, the United Arab Emirates, Kuwait, Qatar, Nigeria, Libya, Algeria, Venezuela and Indonesia.
Turmoil threatens superjumbo orders Links to more Business stories are at the foot of the page.