Opec chief assures Asia of steady oil supply | The Daily Star
12:00 AM, November 29, 2007 / LAST MODIFIED: 12:00 AM, November 29, 2007

Opec chief assures Asia of steady oil supply

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Asia can rely on oil-producing countries to provide enough oil to fuel the region's booming economies, the president of the Opec cartel said here Wednesday.
Mohammad al-Hamli, who is also the oil minister of the third largest Opec producer United Arab Emirates (UAE), said almost 50 percent of Opec oil exports are bound for Asia.
"Whenever there have been times of increased oil demand in the Asian region, in every instance, demand has been met with adequate supply, with much of it coming from the Gulf region," he said in a speech at an energy forum in Singapore.
Touching on the forum's theme on whether the Gulf region can quench Asia's thirst for oil, al-Hamli said it can.
"The Gulf countries and other Opec members are not only able, but they are ready, willing and they are quenching the Asian thirst for oil," he said.

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