Most OPEC countries, however, can't cut back any more to make room for them.

All other OPEC countries are already producing at or near capacity.

The new ceiling for all OPEC countries would be 22.5 million barrels a day.

OPEC countries have invested $100 billion in various oil projects, the group's president said at the news briefing.

After all those years of OPEC countries' cheating on their production, they actually did cut back.

Today, OPEC countries are pumping 27 million barrels a day and getting less.

In most OPEC countries, the governments own the oil companies operating on their soil.

OPEC countries are also adding new supplies, though at a far slower pace.

The OPEC countries contain about 65% of the world's oil reserves.

"OPEC countries and others are not going to indefinitely stick with the dollar that over time has been drifting down."