OPEC Leader Issues Warning About Iran and Oil Supply - NYTimes.com
By JAMES KANTER
Published: July 11, 2008
VIENNA — "The head of the Organization of the Petroleum Exporting Countries warned on Thursday that oil prices would experience an “unlimited” increase in the event of a military conflict involving Iran because the group’s members would be unable to make up the lost production...
We really cannot replace Iran’s production — it’s not feasible to replace it,” Abdalla Salem el-Badri, the OPEC secretary general, said in an interview.
Iran, the second-largest producing country in OPEC after Saudi Arabia, produces about four million barrels of oil a day out of the daily worldwide production of close to 87 million barrels."
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