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Iranian OPEC governor: No emergency meeting over oil prices

By JPOST.COM STAFF

APRIL 5, 2011 17:20

Iran's OPEC Governor Mohammad Ali Khatibi said there would be no emergency bloc meeting over the recent surge in oil prices, reported AP on Tuesday.

According to the report, Khatibi said the recent unrest in Arab countries was the reason for the price hike and that "any increase in such concerns will boost the prices, since oil price depends on the security of energy supply."

"A number of oil exporting countries which are encountering popular uprisings naturally affect the energy security of the consumer countries," AP quoted Khatibi as saying on the website of Iran's semiofficial Fars News Agency on Tuesday.

"And since OPEC has no control over the causes of the surge in oil prices, there won't be any emergency meeting," he said.

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