| Global oil markets are “very well supplied,” the head of the Organization of Petroleum Exporting Countries said, while Saudi Arabia, the group’s largest member, said it’s able to deal with any future shortages.
OPEC, responsible for 40 percent of world oil output, is pumping about 30.6 million barrels a day, Secretary-General Abdalla El-Badri said today in a speech at Chatham House in London. There’s unlikely to be any disruption to shipping in the Persian Gulf, as threatened by Iranian officials in response to a European embargo on the country’s oil exports, he said...............................................Full Article: Source
|