08/09/2008
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Iran talks about likely oil over-supply in ‘09
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TEHRAN: Continued Opec production at current levels would lead to over-supply of its crude in the first half of 2009, causing a fall in prices, Iran's Opec governor was quoted as saying on Sunday.
Mohammad Ali Khatibi, speaking two days before Opec ministers are due to meet in Vienna, said demand for the cartel's oil was forecast at about 31 million barrels per day (bpd) for the first six months of next year. "Opec's oil production currently is between 32.6 and 32.8 million bpd," Khatibi was quoted as saying by the official IRNA news agency.-Reuters
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