Fahd al-Sabah of Kuwait said on Sunday that although prices were high, the market was well-supplied. "Everybody realizes that at this level OPEC can't really do anything, they are still afraid that the market isn't really that tight," said Tony Nunan, a manager at Mitsubishi Corp. in Tokyo. The group is usually reluctant to raise output ahead of the second quarter because the end of the Northern Hemisphere winter spells a slowdown in demand, while the summer driving season has yet to kick off. --More 2350 Local Time 2050 GMT
