VIENNA, 19 July 2004 — With oil prices soaring far beyond the target range, OPEC is to examine in September whether to revise this band upward from its current level of $22-$28 per barrel, analysts said. “An adjustment of the price band will be discussed during the next meeting” of the 11-nation Organization of Petroleum Exporting Countries, a source close to OPEC said. “Our long-term strategy experts will then come up with some concrete recommendations in October in Saudi Arabia. A decision (by the ministers) is then expected at the end of this year or the beginning of next year,” the source said.