"Kuwait would like to continue with the same production level just to show the market that the security of supply will continue and try to bring the prices to a more stable level."
- Kuwaiti oil minister Sheikh Ahmed Fahed al-Sabah said Monday, lending support to the idea of OPEC maintaining their third-quarter output policy at 28 million b/d. OPEC ministers are gathering in the Venezuelan capital Caracas for a meeting Thursday.

"Market fundamentals indicate that there should be a cut in production. There is more than enough oil in the market."
- Venezuelan oil minister Rafael Ramirez said and is the only OPEC minister so far to have mooted that OPEC reduce output. OPEC ministers are gathering in the Venezuelan capital Caracas for a meeting Thursday.

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