OPEC ups oil output in bid to hold prices

OPEC hopes to put a lid on stubbornly-high crude prices by adding 500,000 barrels a day to its targeted output, but vigorous worldwide demand and a dearth of spare production capacity could combine to thwart its plans.

With most of the group’s members already pumping flat out, some analysts worry there is little slack in the global supply system, and they say a disruption in crude shipments from a major producer could trigger a damaging spike in prices.