Iran sees oil demand increasing post-Japan tsunami

Iran's Opec governor said on Friday he saw demand for oil rising as Japan recovers from its March 11 earthquake and tsunami.

"There is a balance in the market," Mohammad Ali Khatibi told Reuters on the sidelines of an oil and gas trade fair in Tehran. "Demand is likely to increase after events in Japan." He also said the oil price would increase if tensions in the Arab world worsened.