LONDON, Jan. 6 (UPI) -- Oil prices are inching toward $100 per barrel, though OPEC leaders Kuwait and Iran said there isn't much need to increase supplies.
Delegates from the 12-member Organization of the Petroleum Exporting Countries at their regular December meeting in Ecuador left production quotas set in 2008 unchanged. Oil prices, meanwhile, have rebounded from recession-era lows of less than $50 per barrel to more than $90 per barrel in recent trading.