The price of oil jumped after the Opec oil cartel failed to agree on increasing production.

石油输出国组织未能就石油增产问题达成一致，国际油价因此上涨。

Analysts¹ had expected the Vienna meeting to raise output, to alleviate²（减轻，缓和） fears of limited supply and send prices lower.

Meanwhile, the latest statistics from BP showed that oil consumption rose by its fastest rate since 2004 last year.

On Thursday Brent crude rose 30 cents to $117.90 a barrel in Asian trade.

US light sweet crude was up 71 cents to $101.10 per barrel.

Opec row

"We are unable to reach consensus³（一致，舆论） to... raise our production," said Abdullah Al-Badri, Secretary General of the Organisation⁴ of the Petroleum⁵ Exporting Countries.

The organisation has 12 member nations.

The cartel's secretariat, based in Vienna, had predicted that rising consumption this year would drive demand above its supply.

Saudi Arabia and other Gulf⁶ states wanted to increase production to limit rising prices and so ensure continued demand for oil.

However, oil ministers meeting in Vienna failed to agree on a rise in output.

"This is one of the worst meetings we have ever had," said Saudi oil minister Ali al-Naimi.

Those who blocked the increase in production included Venezuela, Iran, Algeria and Libya.

Venezuela's oil minister Rafael Ramirez said any production increase "could cause a collapse⁷ of our price."

However, many analysts said it would have little impact on actual production.

"It seems to me that with crude prices as high as they are, most members are already producing as much as they possibly can," said Tom Bentz, director at BNP Paribas commodity（商品，货物） futures⁸.