Tuesday, May 22, 2012
BARCELONA (Dow Jones)--Sufficient spare oil capacity from Arab countries will insulate oil prices from reacting to any instability in the Middle East and North Africa, Imad Nassif Makki, senior refining expert for Organization of Arab Petroleum Exporting Countries, said Tuesday at the Global Refining Summit in Barcelona.
Makki said increasing spare capacity in Kuwait, United Arab Emirates and Saudi Arabia would compensate for any possible shortfall in oil, or disruptions to supply flows in the region.
-By Jenny Gross, Dow Jones Newswires; +44 207 842 9239 jenny.gross@dowjones.com
(END) Dow Jones Newswires
22-05-12 0914GMT
