No shortage of oil supplies: Qatar

0 Comments | AFP, June, 2008

JEDDAH, Saudi Arabia (AFP) — Qatar's Energy Minister Abdullah Al-Attiya said on Sunday that the world oil market was well-supplied and there was no need to raise output.

"As producers, we affirm that there is no shortage of supplies and sometimes production exceeds consumption," Attiya told reporters ahead of a crucial meeting between producer and consumer nations in the Saudi city of Jeddah.

"The question is: is the world facing a supply crisis and the answer is NO," he said.

"I think so far the supply is very efficient. We have a lot of customers that we checked with them and they believe that they are not in a position to buy more oil," he said.

Attiya said producer countries alone could not control the market and high oil prices and urged Europe...