Azerbaijan, Baku, April 2 / Trend /
Mexican Energy Minister Jose Meade said oil shortages caused by the Libyan crisis, could be covered by production in other OPEC nations and existing inventories, Reuters reported.
If conflict does not spread to other Middle Eastern nations, oil prices should fall back to levels seen before fighting erupted in major oil producer Libya, Meade told the Reuters Latin American Investment Summit.
He said that current high prices will benefit Mexico as the world's No. 7 oil producer but a strengthening peso will limit gains for the country's state-run oil company Pemex.