Kuwait's acting oil minister said OPEC's agreed production output increase of 500,000 barrels per day from Nov 1 could bring down the price of crude oil. "We believe supply and demand will be influenced positively once OPEC production is increased by 500,000 barrels a day" to cut the price of a barrel of crude, said Mohammad al-Olaim to journalists. The Organization of Petroleum Exporting Countries had decided in September to pump over 500,000 barrels per day more from Nov 1 to lower prices. The price crude exceeded 90 usd per barrel for the first time on Thursday, bringing its year-on-year increase to almost 50 pct.