Crude oil supplies sufficient for coming decades: OPEC

World energy needs will rise by more than 50% by 2030 but adequate oil reserves, conservation and new methods of recovery mean supply will keep pace with demand, the Organisation of Petroleum Exporting Countries said today.

But Opec’s secretary general acknowledged that dangers to steady supply exist. Addressing one – the threat of a US or Israeli attack on Iran because of its nuclear defiance – he warned that his organisation was unprepared – and unable - to make up for resulting oil shortfalls.