paid August transportation fees to pipeline monopoly Transneft but would need to find money by the middle of August to pay for exports in September. "All the supply side issues at the moment are making it extremely difficult to get a good handle on the market," said David Hynes, industry analyst at ANZ Bank in Melbourne. The Organisation of the Petroleum Exporting Countries, which controls half of the world's crude exports, is pumping at the highest levels since 1979 as it tries to stem oil's relentless rise. OPEC President Purnomo Yusgiantoro said on Friday that output was running at 30 million barrels daily and the group was ready to lift production by 1-1.5 million bpd if it was decided necessary when ministers meet in September. OPEC lifted its official output limits by 500,000 bpd to 26 million bpd on Aug. 1. The limits exclude Iraq, which is struggling to rebuild its oil industry after the 2003 war and a spate of sabotage attacks on key pipelines earlier this year. Iraqi exports ran at about 1.5 million bpd in July and are expected to rise to between 1.7 and 1.8 million bpd this month.
