SONIA RUSELER, CNN ANCHOR: At OPEC headquarters in Vienna, oil ministers will try again Tuesday to agree on a plan to boost oil output. The exporting cartel adjourned Monday after meeting for several hours. Consumer nations, staggered by the highest oil prices in nine years, have been lobbying for increased production. CNN's Brent Sadler reports from Vienna.</s>BRENT SADLER, CNN CORRESPONDENT (voice-over): Struggling to reach agreement on setting new oil production levels, OPEC oil ministers assembled in Vienna amid a frenzy of media attention. The 11 member states of the Organization of Petroleum Exporting Countries are attempting to fine tune their input into the world's oil economy. There's been sustained United States government pressure on friendly OPEC states to boost production. Saudi Arabia, the world's biggest oil supplier is reportedly seeking a daily production rise of 1.7 million barrels. In the U.S., where gas prices have ballooned this election year, an even greater flow of extra crude is being sought. The Saudis along with the Kuwaitis are agreed on increases attempting to balance U.S. economic interests with both their own and those of other OPEC members. Standing firmly against any increase for now is Iraq. Likewise, Libya is taking a conservative stand, arguing that OPEC's target price for a barrel of crude should be $25, several dollars less than it is now.</s>ABDALLAH SALEM EL-BADRI, LIBYAN OIL MINISTER: We are very happy with $25. I think that $25 is fair for producer and the consumers, will not have an effect on the world economy.</s>SADLER: After one formal session, the meeting broke up with no agreement, but they're still working at it.</s>RILWANU LUKMAN, OPEC SECRETARY GENERAL: We are willing to take steps that will enable us to balance perceived demand with supply in order to establish stable prices in the marketplace.</s>SADLER (on camera): OPEC seems intent on taking measures to step up oil production, but the formula they're likely to come up with will please some, but not all. Brent Sadler, CNN, Vienna.
OPEC Oil Ministers Work Toward Compromise on Oil Output