VIENNA (AFP) - Libya's OPEC representative said Sunday that members of the oil producer cartel should respect their quotas, adding that the oil market was oversupplied.
Speaking to AFP, the Libyan National Oil Corporation (NOC) chairman Shukri Ghanem said: "Anyone that is overdoing their quota should respect it."
He added: "The market is more than oversupplied it seems."
The Organization of Petroleum Exporting Countries meets on Tuesday where its 13 members are expected to agree to reduce output to help support sliding crude prices, which have fallen because of weakening global economic growth.
The reduction is expected by analysts to take the form of a clampdown on over-production -- production above OPEC quota levels -- which would take oil off the market without being an official policy change.
OPEC has an official output target of 27.25 million bpd, with each country assigned a quota.
Saudi Arabia is the main quota-buster at the moment, with analysts estimating the oil powerhouse is producing more than 500,000 barrels per day above its target.
Oil prices have fallen from 147 dollars per barrel in July to just above 100 dollars a barrel last week.
Ghanem said on September 5 that the oil market was starting to suffer from oversupply.
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