Wednesday, July 11, 2007

OPEC can do nothing about high oil price: Qatar

(Reuters) - The Organisation of the Petroleum Exporting Countries, supplier of more than a third of the world's oil, was ready to boost supply if the market needed it, Abdullah al-Attiyah told reporters.




"OPEC cannot do anything about it," Attiyah said. "The world is facing a shortage of gasoline and diesel, but not crude oil. If the market needs more oil, OPEC will do its utmost but it needs to be convinced that there is a shortage."


Read more at Reuters.com Business News

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