OPEC ministers rule out output hike ... possibility of an production cut, which hardline producers Venezuela and Iran are calling for

OPEC's president, Algerian Energy Minister Chakib Khelil, said the 13-member cartel, which produces 40 percent of world oil, would not consider an output hike at its official meeting on Wednesday. Khelil, a traditional price hawk, even mentioned the possibility of an production cut, which hardline producers Venezuela and Iran are calling for.