OPEC has signaled it may actually be fine with oil at $100 after several cartel delegates said there were no plans to accelerate production growth despite soaring prices.

Brent crude briefly topped $99 today after Russia’s President Vladimir Putin signed a decree recognizing the independence of the two eastern Ukrainian regions of Lugansk and Donetsk and ordered army forces to enter them for peacekeeping purposes, the Kremlin said.

According to a Bloomberg report, OPEC delegates from Iraq and Nigeria said they saw no need to change the terms of the current OPEC+ agreement, which calls for the addition of a combined 400,000 bpd to total monthly production until pre-pandemic levels of output are reached.

However, OPEC has been consistently failing to reach its quota, led by countries including Iraq and Nigeria.