Opec's Al-Badri sess no shortage in oil market

Opec Secretary General Abdullah Al-Badri said on Tuesday there was no shortage of oil in the global market, which had adjusted itself in both quantity and quality to events that affected supply and demand and the price level.

Addressing a conference at an oil and gas trade fair in Tehran, Al-Badri called on consumer countries to temporarily revise their tax systems to confront what he said were "exceptional circumstances" that required "exceptional solutions". Producer countries often complain of high energy taxes imposed in countries that import oil but complain of high prices.