OPEC strengthens calls for rivals to cut supply

Oil and Petroleum Exporting Countries (OPEC) oil cartel on Thursday raised pressure on rival producers to join output restraint efforts even though prices seem too high for non-OPEC states to consider sharing the load.

OPEC last week agreed to cut production by 3.5 per cent from November 1 to curb growth in consumer inventory stockpiles as rival production rises from Russia and West Africa. OPEC said it expected non-OPEC producers to join in if further cuts are needed. OPEC meets again on December 4 to decide policy for the first quarter 2004.