/IRBIS, Feb.28, 00/ - PRIME-TASS informs, with the reference to the sources among Saudi Arabian officials, that OPEC countries will not likely to increase oil production till July of this year.

As ITAR-TASS informs, an agreement exist among OPEC countries and other oil producing countries to increase the oil production gradually in the third and fourth quarter of this year. Oil exporting countries fear the possibility of a sharp decline in oil prices, hence they took this position despite persistent request of the USA to increase the oil production immediately to prevent inflation boom in America mainly.

The matter will be discussed on March 27 meeting of OPEC in Vienna. News on impossibility of increasing oil production in near term caused the oil price to jump at New York commodity exchange on Friday evening by 38% up to $30.35 per barrel.