NEW YORK (CNN/Money) - The Organization of Petroleum Exporting Countries might take the unusual step of raising output quotas in an effort to curb actual production and keep oil prices steady, according to a published report Thursday.

Oil prices have held relatively stable this fall at just under $30 a barrel but they might decline soon, especially if there is no war with Iraq, the Wall Street Journal reported.

OPEC's official quota is 21.7 million barrels per day, but cheating among member countries is so rampant that actual production is more than 24 million bpd, which the market can absorb right now without lowering prices, the Journal said.

Light crude oil for January delivery fell 59 cents Wednesday to $26.71 a barrel on the New York Mercantile Exchange.

The cartel is betting it can maintain current prices amid falling demand by raising quotas to a level somewhere between targeted production and actual output. The move would essentially legitimize the cheating on quotas and give OPEC room to later make official cuts when demand drops further in the spring, the paper reported.

While member countries may agree to the quota increase when they meet in Vienna next week, they will most likely seek a redistribution of individual quotas, a move that is more sensitive, according to the Journal.