Which of the following is TRUE according to the news item?

The Organization of the Petroleum Exporting Countries has agreed to increase output by one million barrels a day in a move to lower oil prices. Analysts say prices are unlikely to fall.
    OPEC has agreed to a four percent increase in official production quotas. The decision lifts quotas by one million barrels a day to 27 million.
    OPEC is concerned that oil prices reached record levels this year, going above 40 a barrel.
    The cartel says the market is well supplied with oil and prices have been pushed up by speculation and unexpected demand from China and India.
    Johannes Benigni, analyst for PVM Oil Associates, says many refineries in the United States and Europe will be closed for several weeks next year.
    Mr. Benigni says non-OPEC oil producing countries could bring more oil onto the market, but this will take time.
    Crude oil futures are trading at more than $ 40 a barrel in New York and London. OPEC is scheduled to review prices again in December.