OPEC president says it won't raise production before September

The Organization of Petroleum Exporting Countries will not increase production before its next meeting Sept. 9, Algeria's energy minister said Monday.

"Current prices aren't linked to the law of supply and demand," said Energy Minister Chakib Khelil, the current OPEC president, according to government newspaper El Moudjahid. Saudi Arabia, the world's leading oil producer, promised an additional 300,000 barrels of crude a day as US President George W. Bush wrapped up a meeting Friday with King Abdullah. (AP)