The Secretary General of the Organization of Petroleum Exporting Countries [OPEC] Abdalla Salem El-Badri, said 95 per cent of oil production in southern Iraq, although still a natural development of the situation did not affect the production area.
He attributed Badri in a joint press conference with Energy Commissioner of the European Gunter Ottngr the high price of oil to $ 110 a barrel to market speculation and not to a lack of production, saying that OPEC is ready to face any problem in the market and there is no reason to hold an emergency meeting of the Organization.
He added, "We have lost Libya did not happen in the lack of production and decreased production of Iran, there have been a problem and will return to Libya, I believe that Iran is on its way to restore their production will not be affected Iraqi production."
"I've discussed in this round of the dialogue the market situation and there is a problem in Ukraine and the problem in Iraq, but the inventory available in reasonable quantities and commercial stock is enough for 57 days and a half due to the absence of a problem in the market, we decided to produce 30 million barrels per day and will not need the market more ".
For his part, said Gunter, "We have faced the problem of a few years ago with respect to Libya, and there is a ban on Iran, OPEC's market is stable and reliable team and there Producers Additional oil and we are very optimistic this will not be faced with big problems."
He described the energy dialogue between the EU and OPEC, which was held today in Brussels for the eleventh time that he was "a dialogue with the winner winner."
He praised the role of OPEC in the coverage of disruption in oil supply in the past and maintaining price stability and the security of supply, pointing out that the price of oil today in the interest of the consumer and the producer and investor. Ended
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