Opec crude supply faces disruptions

TEHRAN: Rising Opec output has cut the group’s spare capacity and left the oil market vulnerable to any surprise supply disruptions, Iran’s Opec governor said yesterday.

The Organisation of the Petroleum Exporting Countries pumped more oil for the third consecutive month last month, helping to bring prices down $30 from a peak above $147 a barrel to a three-month low on Friday.


Rising Opec output has coincided with a fall in demand from top energy consumer the US, hit by an ailing economy and soaring pump prices.

“The drop in oil price has come at the expense of supply security,” Iran’s Opec governor Muhammad Ali Khatibi said.

Gulf Daily News