http://www.marketwatch.com/story/opec-has-its-wish-but-it-wont-last-for-long-2009-12-18

There is also something about Iraq in that too.They plan to upgrade production from 2.5 to 12

Then there's one emerging issue that's likely to come up during discussions at the meeting: Iraqi production.

Iraq currently produces around 2.5 million barrels per day and, according to a report from AFP, plans to boost output to 12 million barrels per day within seven years.

So they could have some spare capacity if demand should rise to quickly to react on it and keep the oil price at a level where economy and profits could be ok.

Don't think we wil see a spike in oil very quick like some are hoping for.It's better they can control the situation.