VIENNA, 15 March 2007 — OPEC oil ministers spoke out yesterday against increasing production at this week’s meeting, despite concerns that pricey oil could be gnawing away at the global economy.

The comments, by the oil ministers of Nigeria and Kuwait as well as a senior Libyan oil official, reflected satisfaction on the part of the Organization of Petroleum Exporting Countries with present prices.

Still, plunging stock markets have raised questions about the health of world economies, and with it the future prospects of strong crude demand, despite predictions that the world’s appetite for OPEC oil is on the rise.

Asian and European stocks dropped yesterday after Wall Street’s second-biggest point drop in four years rattled already nervous markets. The tumble came just as international markets were recovering from sharp declines earlier this month amid concerns about overvalued stocks and a US slowdown.

“I will strongly argue against this, we’re not there yet,” said Nigerian Oil Minister Edmund Daukoru, when asked if the 12-nation organization would contemplate raising output ahead of the high-demand North American driving season at its meeting Thursday.

Two cuts in the past four months have contributed to relative stability that has kept benchmark crude between $50 and $60 a barrel — down from the record highs of above $78 a barrel last summer, but still around 40 percent above 2004 levels.

Yesterday, oil prices were mixed after US petroleum inventory data showed an increase in crude stocks but declines in gasoline and distillate stocks, which include heating oil and diesel fuel. Light, sweet crude for April fell 15 cents to $57.78 a barrel on the New York Mercantile Exchange. April Brent on the ICE Futures exchange gained 24 cents to $61.14.

Present prices leave comfortable profit margins both for producers and the major oil companies while remaining below the pain threshold that leads to less world consumption — and increased interest in alternative fuels such as ethanol and wind and nuclear energy. So it looks to be in OPEC’s interest to keep pumping at present levels — but be ready to raise or lower output if prices fall too far, or rise too high.

But with the traditionally high-demand North American summer driving season approaching, there is little likelihood of a near-term prolonged slide in prices — and of resulting production cutbacks any time soon. Instead, OPEC might be looking at pressure to increase production at its next scheduled meeting in June.