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OPEC couldn't replace Iran's oil
OPEC would not be able to replace Iran's oil production if supplies were halted in case of a war with Israel or the US, the oil cartel's chief said today."I hope there will be no attack on Iran. I hope that problem will be solved peacefully," the Organisation of Petroleum Exporting Countries' secretary general Abdalla Salem El-Badri told a news conference in Vienna. "But if something were to happen it is impossible to replace the production of Iran." Iran is OPEC's second-largest oil producer with an output of about four million barrels per day. "That's a huge quantity, it is almost impossible to replace," Mr El-Badri said, adding that OPEC had no contingency plans in case of war. "We have no plans for wars," he said. "We have plans for national disaster or something like that. But for a country to attack another country, we don't have this kind of policy." Posted by: tipper 2008-07-10 |
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