ID :
176754
Wed, 04/20/2011 - 11:33
Auther :
Shortlink :
https://oananews.org//node/176754
The shortlink copeid
Oil not to fall below $100 this year: OPEC Sec. Gen.
TEHRAN, April 20 (MNA) – OPEC Secretary General Abdullah Salem Al-Badri said on Tuesday he did not expect the oil price to fall below $100 for the rest of the year.
"The price will not come down from $100 for the rest of 2011," he told a news conference on the sidelines of Iran Oil Show in Tehran.
The global oil markets are sufficiently supplied and there is no need for OPEC to increase crude output, Al-Badri added.
He went on to say that OPEC has repeatedly said there is no shortage of oil anywhere in the world and stocks are high.
“OPEC has done its part to ensure that the market is adequately supplied with crude and it will be useful in this challenging time if consuming countries, who impose high taxes on oil, revise it temporarily because we are in exceptional circumstance that needs exceptional solution,” he added.
"The price will not come down from $100 for the rest of 2011," he told a news conference on the sidelines of Iran Oil Show in Tehran.
The global oil markets are sufficiently supplied and there is no need for OPEC to increase crude output, Al-Badri added.
He went on to say that OPEC has repeatedly said there is no shortage of oil anywhere in the world and stocks are high.
“OPEC has done its part to ensure that the market is adequately supplied with crude and it will be useful in this challenging time if consuming countries, who impose high taxes on oil, revise it temporarily because we are in exceptional circumstance that needs exceptional solution,” he added.
