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Iran oil to Europe difficult to replace - OPEC

Steel News - Published on Mon, 12 Dec 2011

Iranian oil supplies to Europe would be difficult to replace if a ban supported by some European Union states were to be imposed.

Mr Abdullah Al Badri secretary general of OPEC said that \"I really hope that there will be no embargo from the EU but it is their decision. It would be very difficult to replace.\"

Mr Badri said that Europe as a whole, a region that includes non EU countries such as Turkey imported as much as 865,000 barrel per day of Iranian oil.

He said that the EU is facing some difficulties as far as sovereign debt and unemployment so to cut 865,000 barrel per day immediately would be a problem. I don\'t really advise against it but at the end of the day it is the EU\'s decision.

(Sourced from Reuters)


Posted By : admin on Mon, 12 Dec 2011
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