OPEC not concerned about US pickup in oil output

Published December 13, 2012 3:16pm ET



VIENNA (AP) — OPEC does not see increased U.S. oil output as a threat to its interests but is skeptical about current forecasts on the boom of American shale oil production, a senior official of the 12-nation cartel said Thursday.

OPEC Secretary General Abdullah Al-Badry also said that figures supplied by Iran show it producing around 3.7 million barrels a day. That is the same amount as Tehran pumped before international embargos on its crude that took effect this year and is estimated to have cost it hundreds of thousands of barrels a day in sales.

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