Opec yesterday prepared to keep oil output limits unchanged, high prices postponing the need to tighten the taps until later this year.
Kuwaiti Oil Minister Sheikh Ahmad al-Fahd al-Sabah said he wanted the cartel to hold production steady "from now until September at least."
"Right now the market is balanced, stocks are low especially in the US, and demand will rise in the next quarter so I'm not expecting any dramatic decisions," added Ali Rodriguez, head of the state Venezuelan oil company PDVSA.
Those comments helped quell lingering worries among traders that producers might pull a surprise and cut back to pave the way for Iraq's imminent return to world crude markets.
Fretting about a surplus as Iraqi exports gradually rebuild, some in the Organisation of the Petroleum Exporting Countries fear strong prices could quickly evaporate.
"We are concerned because prices are high not because of a lack of oil, they are high because of uncertainty," said Algerian Oil Minister Chakib Khelil.
"If the conference comes out with no change it might be necessary to meet again before September." Opec's next gathering is scheduled for September 24.
With Opec's crude index near the top of its $22-$28 target, thoughts of an immediate cut from limits of 25.4 million barrel a day appear to have been set aside.
"Prices are OK, there's no oversupply and we don't know what will happen with Iraq," said Nigeria's head of Opec delegation Rilwanu Lukman.
"From now to September Iraq will still have a lot (to do) to reach the previous level of production... we still have time to continue with our ceiling," said Mr al-Sabah.
Some in Opec think Iraq's progress back to its pre-war 2.7 million barrels a day could be slower than that, giving the cartel breathing space.
"The situation in Iraq is much more complicated than expected. I'm not expecting significant exports from Iraq until next year," said Mr Rodriguez.
Powerful core Opec Gulf members led by Saudi Arabia, are likely now to focus on ensuring compliance with the existing 25.4 million bpd limit.
The group also is set to serve notice on independent producers that their help is required when cuts are next needed.
Opec's courtship of Russia, Mexico and Norway is designed to avoid a repeat of the damaging stand-off between the two sides that saw prices slide in late 2001.
Cartel producers have not needed to lower quota limits since that time, when they slashed supplies on condition their rivals contribute.
Represented in Doha, non-Opec countries are attending an extraordinary Opec meeting for the first time.