The president of the Organisation of Petroleum Exporting Countries said Thursday the cartel will allow member states to raise output to stabilise high world prices.
"We have a tolerance, they can increase their production in the framework of stabilising prices," Purnomo Yusgiantoro, who is also Indonesia's energy minister, told reporters.
Yusgiantoro said Opec will go ahead with its previously agreed one million barrels per day output reduction next month but a temporary production increase was allowed under Opec policies if oil prices exceed 28 dollars per barrel.
"Leakage is allowed in the framework of assuring security of supply to the world market," Yusgiantoro said.