OPEC not under any pressure: Badri

Business Materials 6 April 2008 17:44 (UTC +04:00)

( IRNA ) - Secretary General of the Organization of the Petroleum Exporting Countries Abdullah al-Badri said here Saturday evening that OPEC is not under any pressure.

Al-Badri, who arrived in Iran on Friday on a three-day visit, made the remarks in a press conference after his meeting with Oil Minister Gholam-Hossein Nozari.

He reiterated that there is coordination and unity among all OPEC member states admitting that there were some differences of views among them in the past.

All OPEC members are on board of a ship and the ship should be conducted through common understanding and cooperation, he added.

The OPEC will neither support high nor low prices, he said adding that oil is the only income source of the member states and therefore there should be a fair price for it.

The OPEC members have decided not to hold an extraordinary meeting and hold a regular session in September, al-Badri added.

On high price of oil, he said the OPEC members do not speak on the price, this is the market condition that sets the price.

Referring to Iran as one of major OPEC members, he said Iran is one of the organization's founding members. The country enjoys an important position in the organization in terms of output and crude exports, al-Badri stated.

OPEC will celebrate its 47th birthday anniversary this year, he said adding that it is the only active organization of the developing countries which has continued with its activities despite all problems.

OPEC is currently supplying more than 40 percent of the world crude, the secretary general said.