"There are no plans to change the price band to make up for the losses resulting from the steep decline in the value of the dollar," Attiyah said on the sidelines of a conference in Doha, adding that suggestions to change the band were "unrealistic and impractical." Attiyah also reiterated remarks made Monday that recent high prices were not due to fundamentals and OPEC did not intend to take immediate action to raise supply although prices have been above OPEC's price band for more than the requisite 20 consecutive trading days. But he said all options were open in Algiers. "There will be no change or amendment to OPEC production levels before the next meeting in Algiers in February," Attiyah told reporters. "All options are open at the extraordinary meeting in Algiers next month."

Read more about OPEC in Platts OPEC Guide.