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Iraq OPEC quota may not be needed for next 4 to 5 years


02-02-2010 - 08:12

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It will be four to five years before there is a need to re-accommodate Iraqi oil output within OPEC\'s oil production policy, OPEC Secretary-General Abdullah al-Badri said today. At the end of the day Iraq is a founder member,\" Badri added. \"I\'m sure a solution will be found.\" el-Badri commended a proposal by the U.S. Commodity Futures Trading Commission to tackle \"excessive speculation\" in over-the-counter oil futures trading. \"It will not eliminate\" speculation but \"excessive speculation should be reduced,\" he said.


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