"Increasingly, oil markets are being driven by forces beyond OPEC's control...it is more geopolitical events and the growing influence of financial investors. However, we will do what we can...to ensure the market is adequately supplied with crude oil. OPEC is keenly aware of its responsibility to contribute to stability in world oil markets."
OPEC president Mohammed Bin Dhaen al-Hamli said Tuesday oil markets were increasing being driven by forces beyond the oil producer group's control but stressed that OPEC would do what it could to ensure that markets remained adequately supplied with crude.
"It is only a head of state meeting, we cannot take a decision there...There will be some decisions and exchange of views."
Qatari oil minister Abdullah al-Attiyah said Tuesday OPEC does not expect to take a decision to adjust its production quotas at its heads of state meeting in the Saudi capital Riyadh next month.
Updated: October 30, 2007
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