OPEC to increase petroleum production by 1.5-1.7 million barrels per day

/IRBIS, Feb.16, 00/ - Associated Press with the reference to Washington Petroleum Finance informs that OPEK, as it is expected, in March will decide to increase petroleum production by 1.5-1.7 million barrels per day. However rise in fuel prices will hardly be stopped, since there are small stocks of it on the refiners. Most likely, OPEK countries will increase production, since they realize that petroleum became too expensive. 30 dollars / barrels price can provoke inflation and result in oil consumption recession. It contradicts long-term interests of OPEK. The increase of production can result in decrease in prices 25 dollars / barrels in summer.