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Market supplied with enough oil, OPEC official says |
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Posted 07 April 2008 @ 04:55 am EET |
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TEHRAN (Reuters) - The market is supplied with enough oil and OPEC is not under pressure to raise output, the organisation's secretary general was quoted as saying on Saturday during a visit to Iran.
"Oil supply to the market is enough and high oil prices are not due to a shortage of crude but rather it is because of the decrease in the dollar's value, shortage of refinery capacity and some political tensions in the world," OPEC Secretary General Abdullah al-Badri was quoted as saying by Iran's official IRNA news agency.
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Reuters 2006. All Rights Reserved.
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