Secretary General of the "OPEC": We have not decided yet how to accommodate the increase in oil prod

/ Ibrahim Ali / Anatolia Said Abdalla Salem El-Badri, Secretary General of the Organization of Petroleum Exporting Countries "OPEC", said the organization has not yet determined how to accommodate the increase in oil production in Iraq, Libya and Iran.
, and the three countries among the members of OPEC's 12 members.
added, during a press conference held on Wednesday in the capital Doha, Qatar, we will discuss this later, but the organization can absorb the excess production of those countries.
Badri predicted a gradual increase in the production of both Iraq and Iran, as you can to support Libya produced about one million barrels per day during the month. He pointed out that OPEC, which supplies the world about 40% of its oil needs would wait until 2015 to discuss the production target of Iraq, which is now produced outside the quota system applied to the eleven state of others who are the organization.
intends to Iraq to raise its export capacity to 4.5 million barrels per day During the current year, from its current level at 3.5 million barrels per day, is expected to increase the production of Libyan oil from its current level at 150 thousand barrels per day, after the end of a partial crisis gunmen control the export ports east of the country to levels close to the pace in the middle of last year when 1.4 million barrels per day.
seeks Iran to the arrival of oil production during the current year to 2005 levels at 4.2 million barrels per day, compared to production current of less than three million barrels per day.
continued Badri: "There is no problem for OPEC to absorb any increase in the production coming from Iraq and Iran, and when he returns Libyan production to its previous status, the organization Ststoabh also because it comes within the framework expected by OPEC. "
predicted Badri to increase OPEC production to its highest level in 35 years, with increased production in Iraq and Libya.
pointed out that global demand for oil will increase by about 1.1 million barrels per day in 2014, while OPEC continues its current production of 30 million barrels per day, noting that the possibility of oil ministers of OPEC member states change the volume of production at their next meeting.
scheduled to OPEC meets on 11 June / next June in Vienna, to consider its output target which amounts to about 30 million barrels per day.
pumps OPEC composed of 12 countries more than a third of global oil supply, agreed at a meeting in Vienna in December to keep the level of production target unchanged at 30 million barrels per day for the first half of 2014.

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