OPEC Secy Gen: OPEC Can Do Little Now to Dampen Prices

OPEC’s Secretary General said Thursday that there’s little the producer group can do now to dampen high oil prices.

In a telephone interview with Dow Jones Newswires, Mohammed Barkindo said: “What can we do that we haven’t already done?”

Even if the group were to pump more crude oil, they are unable to produce the light, sweet crude that consumers are currently seeking, Barkindo said.

“It’s the problem of the quality,” he said…

Barkindo’s comments reiterate those of other senior OPEC officials earlier Thursday.

Iran’s Oil Minister Kazem Vaziri Hamaneh had said OPEC is pumping crude to its limit.

Poster adds: as well as reiterate comments by the Libyan, Iranian and Kuwaiti OPEC ministers…and echo the comments of the former OPEC secretary general from Indonesia more than a year ago..

Rigzone