OPEC head says Iranian oil would be hard to replace for EU

OPEC Secretary-General Abdullah El-Badri said Wednesday that he hoped the European Union would not choose to embargo Iranian oil as part of sanctions on the Islamic Republic over its controversial nuclear program, AFP reported.
Badri stated that Iranian oil would be "very, very difficult to replace."
He added that, given Europe's current economic problems, "to cut these 865,000 barrels a day immediately, I think it will be a problem."