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Oil Ministers Ask OPEC to Curb ProductionBy BRUCE STANLEY ALGIERS, Algeria (AP) -- OPEC members must show greater discipline and produce within their output quotas for crude if they hope to forestall a sharp drop in oil prices when seasonal demand falls this spring, the group's president said Monday. Several oil ministers echoed that view as representatives of the Organization of Petroleum Exporting Countries gathered in Algiers to discuss what action to take to try to keep crude prices from tumbling during the April-June quarter. OPEC president Purnomo Yusgiantoro refused to rule out a decision to cut the group's output ceiling of 24.5 million barrels a day when the delegates meet formally on Tuesday. "If we don't handle it well in the second quarter, the price may just be dropping rapidly," Purnomo told reporters at an Algerian government-run conference center. OPEC's 11 members pump about a third of the world's oil. Purnomo said the group fears that global demand for oil will decline by as much as 2.5 million barrels a day during the second quarter, but its members are currently producing about 1.5 million barrels a day above their output ceiling.
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