Secretary general of OPEC Abdullah El-Badri said on Monday that oil producers are “concerned” at high crude prices and added that markets are adequately supplied. Secretary general of OPEC Abdullah El Badri said on Monday that oil producers are “concerned” at high crude prices and added that markets are adequately supplied. “The (high) oil price is a concern. We see that there is a USD15-20 premium risk at this time,” Badri told reporters when asked if OPEC was concerned about soaring crude prices.He was speaking ahead of a roundtable meeting for Asian energy ministers who are expected to discuss the impact of oil prices on the economy.Oil dipped in Asian trade Monday as traders locked in profits after gains last week.New York\’s main contract, light sweet crude for delivery in May fell 70 cents to USD108.96 a barrel.Brent North Sea crude for June eased 42 cents to USD123.03.The head of the International Energy Agency (IEA), Nobua Tanaka, said on Sunday that current oil prices were “very high” and that the consumers\’ agency was alarmed that this could undermine economic growth and crude demand.”Certainly current oil prices are very high… (we are) alarmed about that it could negatively impact the economic… Read full this story
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