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Supply is not an issue in oil markets - Oman oil minister


Published : Mon, 03 Dec 2007 13:53
By : Agencies
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ABU DHABI (Thomson Financial) - Oman's Oil Minister Mohammed Hamad al-Ramhi said as far as oil markets go, the price is the primary concern, not the supply.

Arriving in Abu Dhabi for Wednesday's OPEC meeting, he told journalists: 'I think the supply is not an issue. The issue is the price and the two are not related.'

Al-Ramhi said OPEC, which meets on Dec 5 to decide on forthcoming oil output, has a responsibility to act on supply issues, but the market is well supplied and the price is not to do with the cartel.

maytaal.angel@thomson.com, anealla.safdar@thomson.com

jag

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