OPEC says more oil won't help world economy

By Luke Pachymuthu and Randy Fabi

VIENNA (Reuters) - OPEC on Thursday looked set to rebuff consumer calls for more crude, saying it was powerless to help stave off recessionary pressures in the West.

Enjoying a sixth year of crude price gains, the Organization of the Petroleum Exporting Countries argues it can do little to help avoid a slowdown in the United States, its leading customer, that could curtail demand for the cartel's oil.

"I don't see what increasing supply of oil will do to the economy, psychologically maybe it would help but I doubt it," said OPEC President Chakib Khelil ahead of Friday's 0900 GMT meeting.

"I think the market is well supplied and it's not necessary to raise output," said Iranian Oil Minister Gholamhossein Nozari.

U.S. crude last traded down 58 cents on Thursday at $91.75 a barrel

Delegates said Gulf producers Saudi Arabia, Kuwait and the United Arab Emirates would not argue the case for more oil, even though they would prefer lower prices.

"The majority of OPEC ministers are not happy with the current high price but it is decided by the market," one senior OPEC delegate said.

The United States has led the appeal for more crude from OPEC, saying that lower fuel costs would bolster an economy now sliding towards recession.