OPEC has turned up its taps by 2 million barrels per day (bpd) since mid-March, leaving global markets well supplied heading into the second half of the year, the cartel's president said on Monday. Sheikh Ahmad al-Fahd al-Sabah said higher supplies from the 10 OPEC members bound by quotas, except Iraq, had also succeeded in pushing the oil price below $50 a barrel. "Since our last meeting in Isfahan (in mid-March) until now, there is 2 million that has been added to the market," he told reporters. "When we were in Isfahan ... the (OPEC 10) production was 27.7 million and now our real production is 29.7 million." "I think prices will continue between $45 and $55 ... but we will accept less than this," he said.