OPEC head: Too late to hike June output

LONDON, May 20 (UPI) -- The Organization of Petroleum Exporting Countries' President Purnomo Yusgiantoro said Thursday in London that it was too late to boost oil output in June.

Yusgiantoro, who is also Indonesia's oil minister, said: "I cannot tell people to increase production now because the commitment to customers are already out."

Speaking in his role as Indonesia's oil minister, Yusgiantoro acknowledged that Indonesia, OPEC's eighth-largest oil producer, had become a net importer of crude, due to temporary oil field glitches.

Yusgiantoro said Indonesia, OPEC's only Asian member, had an extra 1 billion barrels of reserves it plans to "roll out" in the next two-to-three years.