Kuwaiti oil minister Sheikh Ahmed al-Abdullah al-Sabah believes the production monitoring committee of the Organization of Petroleum Exporting Countries (OPEC) will recommend that existing production quotas are maintained.

Bloomberg reports that the minister made the comments about the recommendation to OPEC after he had attended an hour-long meeting in Vienna of the group's Ministerial Monitoring Committee (MMC), which reviewed data on OPEC oil supply and demand.

OPEC ministers were set to meet today (September 9th) for the third time this year to discuss quotas, after deciding to leave them unchanged at the previous meetings in March and May.

The news resource notes minister Al-Sabah as saying that more compliance is, however, needed with existing production targets, as OPEC members are currently complying with approximately 68 per cent of promised cutbacks.

When OPEC met in May, the MMC recommended no change in quotas. After this meeting, OPEC said that weak industrial production and high unemployment meant "the Conference decided to maintain current production levels unchanged for the time being".

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