OPEC President Says Enough Oil is Being Produced, Blames Other Factors for High Prices

Just days after Saudi Arabia hosted an oil summit attended by more than 30 countries, senior executives of oil companies and OPEC nations debate continues to rage over what has caused the price of oil to escalate over the past year.

While Saudi Arabia has said they would increase their oil production president of OPEC Chakib Khelil has said production is not the problem, rather it is a weak US dollar and the growing crisis in Iran that has affected oil production.

Khelil has said that supply and demand were at equal levels, meaning a boost in production would not solve the current problem.

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