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Tough talk on Iran to blame for record oil-OPEC pres

Written by: Staff

ABUJA, April 18 (Reuters) OPEC's president said on Tuesday oil would retreat from its record high if Iran's opponents stopped talking so tough over the Islamic republic's nuclear programme.

Edmund Daukoru, who is also Nigeria's oil minister, added that increased tension between Israel and the Palestinians was not helping matters.

''The current shoot up we are experiencing is as a result of the Iran problems and it's not helped by the flare up between Israel and the Palestinians,'' Daukoru told a news conference.

''But mainly it's the threatening statements being made against Iran as a result of its nuclear programme,'' he added.

He said a shortage of refineries to turn crude oil into products like gasoline and heating oil was behind a four-year rally that has taken oil from to a barrel.


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