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Kuwaiti Oil Minister Bakheet Al-Rashidi crossed the wires in the last hour and said that the OPEC has the ability to meet demand in the market when there is a need.  

Additional quotes:

   “¢   Expects global demand for crude oil to rise between 1.4-1.5 million bpd annually.
   “¢   The OPEC Vienna meeting will study supply and demand and then ascertain whether to cut or raise production.
   “¢   What OPEC cares about is oil market stability.