The Car and Truck Fleet and Leasing Management Magazine

OPEC May Boost Output in September

September 05, 2002

The Organization of Petroleum Exporting Countries is discussing a possible production increase of between 500,000 and 750,000 barrels of oil per day, Bloomberg reported Thursday. This 3.5 percent increase in oil production could help bring down the price of crude oil. Increases in crude oil costs recently have pushed up the price of diesel fuel and gasoline. An OPEC spokesman told Bloomberg the cartel could decide on expanding output for the first time in two years when it meets next month in Japan. Some of OPEC’s 11 members feel that if oil prices keep rising, the global economic recovery could be threatened, Bloomberg said. OPEC President Rilwanu Lukman said the cartel's spare capacity could be used to prevent prices from rising above the top end of OPEC's $22-$28-per-barrel target range, Reuters reported.
Twitter Facebook Google+


Please note that comments may be moderated. 
Leave this field empty:

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.


Fleet Tracking And Telematics

Todd Ewing from Verizon Connect will answer your questions and challenges

View All


Fleet Management And Leasing

Jack Firriolo from Merchants will answer your questions and challenges

View All


Fuel Management

Bernie Kanavagh from WEX will answer your questions and challenges

View All


Sponsored by

Coyte supervises the strategic direction, coordination, and implementation and management of fleet activities for JCI, a global leader in automotive systems, building efficiency and power solutions.

Read more

Fuel Saving Strategies Survey

View our 2008 survey to benchmark your fleet's fuel and green strategies with other fleets.

Fuel Calculator

A managed fuel program can help you save time and money and gain control over the way you fuel your vehicles. Determine your potential savings by using our fuel calculator.
Launch Fuel Calculator 

Fuel Prices

U.S. Gasoline and Diesel Fuel Prices.

Launch Fuel Prices 

Up Next

More From The World's Largest Fleet Publisher