There is little more OPEC can do to control world oil prices, secretary-general of the organisation Alvaro Silva warned the World Economic Forum, convening at Davos in Switzerland, on 24 January. 'What can we do more?' he asked. 'I do not agree there is a lack of oil. The problem of the price is the threat of war.' Prices have been well above OPEC preferred price band of $22-28 a barrel since December, as a strike has reduced Venezuelan production to a fraction of previous output and fears persist that the US will launch a military attack on Iraq. Silva said that OPEC producers were doing all they could to bring the price back down to $28, but that most members are already pumping close to full capacity with only Saudi Arabia and the UAE able to increase production. He was echoed by OPEC president and Qatari Energy & Industry Minister Abdulla al-Attiyah, who told the gathering that speculation rather than reality was responsible for the high prices. 'There is no need for prices to be where they are today,' agreed Saudi Oil Minister Ali al-Naimi.