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SHANGHAI, Sept 19 (Reuters) - Saudi Oil Minister Ali
al-Naimi said on Wednesday the kingdom and OPEC remained
committed to a stable crude market and would fill any shortages
in world supply ``whenever they happen and for whatever reason.''
``There is a lot of concern in the area of price stemming from
concerns of a potential shortage in supply, I can assure you
there will be no supply shortage,'' Naimi told delegates at the
World Petroleum Conference in Shanghai.
``We in Saudi Arabia, and in joint cooperation with other
OPEC producers, are committed to a stable oil market. We will
make up shortages in supplies whenever they happen and for
whatever reason.''
Crude prices jumped last week to close to $30 a barrel last
week after hijacked planes slammed into the World Trade Center
in New York and the Pentagon in Washington.
The oil market is wary of military retaliation by the
United States on the perpetrators and the possible spread of
violence and potential disruption to crude supplies.
Traders remain nervous that military reprisals may have a
destabilising effect on the Middle East where two-thirds of
world petroleum reserves lie.
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