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OPEC President: Keep Oil Supplies at Current Levels or Higher

The president of the Organization of Petroleum Exporting Countries says the oil cartel should keep producing the current amount of oil and consider raising its quotas.

The comments came Monday from OPEC President Sheikh Ahmad al-Fahd al-Sabah, who is also Kuwait's oil minister.

OPEC officials are scheduled to gather in Iran on March 16 to discuss oil supplies and prices.

World oil prices pushed above $52 a barrel Monday as forecasters said a winter storm would dump significant snow on the northeastern part of the United States, pushing up demand for heating oil.

Some information for this report provided by Bloomberg, AFP and Reuters.