Higher Opec Output Will Not Control Global Oil Price
July 4, 2005
According to “Tehran Times”, inattention to limitations facing downstream oil industry is among the most important factors keeping global oil prices high. Director of OPEC and major oil producing countries research group at the Institute for International Energy Studies said that due to refining limitations that cause gasoline shortage in summer and shortage of fuel in winter, effective measures must be taken to solve downstream oil industry problems. Mohammad Khatibi Tabatabaii added that under the current circumstances increasing OPEC output by 500,000 barrels per day cannot control prices.