OPEC worries about demand as oil rises above 140 dollars

MADRID (AFP) — OPEC president OPEC Chakib Khelil said Tuesday the oil cartel was concerned about future demand, underlining that the cartel is in no mood to pump more crude to cool record prices.

"The concern we have is about the security of demand," Khelil, who is also Algeria's energy minister, told delegates at industry event the World Petroleum Congress in Madrid.

He said there were "big uncertainties" about making huge investments in infrastructure to increase output from the 13 OPEC member countries, which currently pump about 40 percent of world oil.

"I don't think anyone questions that we have enough resources; the issue is if we are able to supply it to the market," he said.

Benchmark oil prices hit record high levels above 143 dollars a barrel on Monday amid growing public anger at the rising cost of fuel worldwide and concern about the impact on ...