OPEC: Oil prices will see "unlimited" rise if Iran is attacked

Posted by Robert on July 10, 2008 12:19 PM

OPEC puts in a good word for the mullahs.

"OPEC chief warns of 'unlimited' oil prices if Iran is attacked," by James Kanter for the [1] International Herald Tribune, July 10 (thanks to the Constantinopolitan Irredentist):

VIENNA: The head of the Organization of Petroleum Exporting Countries warned Thursday that oil prices would see an "unlimited" increase in the case of a military conflict involving Iran, because the group's members would be unable to make up the lost production.

"We really cannot replace Iran's production - it's not feasible to replace it," Abdalla Salem El-Badri, the OPEC secretary general, said in an interview.

Iran, the second-largest producing country in OPEC, after Saudi Arabia, produces about four million barrels of oil a day out of the daily worldwide production of close to 87 million barrels....

They can't replace four million barrels out of 87 million?


Article printed from Jihad Watch: http://www.jihadwatch.org/2008/07/opec-oil-prices-will-see-unlimited-rise-if-iran-is-attacked.html

URLs in this post:
[1] http://www.iht.com/articles/2008/07/10/business/opec.php