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OPEC Pledges EU to Make Up For Shortage in Oil Market

Service : Economy
TEHRAN, June 28 (ICANA) – Iran's Governor at the Organization of the Petroleum Exporting Countries (OPEC) Mohammad Ali Khatibi, whose country chairs the world oil cartel, underlined on Tuesday that the organization would fill the gap caused by the stop in the Libyan oil production to keep supply straight.
Tuesday, June 28, 2011 9:22:05 PM
OPEC Pledges EU to Make Up For Shortage in Oil Market

Speaking to FNA on Tuesday, Khatibi stated that the issue was raised in a meeting of the EU-OPEC Energy Dialog in Vienna.

OPEC was represented at the meeting with the EU by its Iranian President Mohammad Aliabadi, who is a caretaker of the Iranian Oil Ministry, Iraq's OPEC Governor Falah Alamri, and OPEC Secretary-General Abdalla el-Badri.

EU representatives included President of the EU Energy Council and Hungary's National Development Minister Tamas Fellegi, Poland's Deputy Economy Secretary Maciej Kaliski, and EU Energy Commissioner Gunther Oettinger.

As regards the details of the meeting, Khatibi mentioned that the two sides discussed oil market and short and long-term issues.

"At the meeting, OPEC guaranteed that there will be no problem in oil market, and that OPEC members will fill this (Libya's) gap and there is, thus, no room for concern," he stated.

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