31.05.2011 - Iran: 'OPEC will help cover global supply shortage'
The Organization of the Petroleum Exporting Countries is acting to balance the global market and will continue to do so, according to Iran's OPEC Gov. Mohammad Ali Khatibi. "OPEC is trying to compensate part of the shortage of supply of crude and create a balance in the market and in the future OPEC will continue to do its onerous duty which is to create balance in the market," said Khatibi. He said he expected global oil demand to rise to 88.9 million b/d by yearend and demand for OPEC crude to rise to 29.8 million b/d by yearend from 29.7 million b/d in the first quarter..............................................Full Article: Source
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