"They (the Americans) understand that if they should make this mistake, the retaliation of the Iranian people will be severe and they will repent."
President Mahmoud Ahmadinejad told reporters in Abu Dhabi on Monday. He warned that Iran would retaliate with severity to any possible attack by the United States over Tehran's controversial nuclear programme.
US energy secretary Samuel Bodman said he hoped that prices "north of $60/barrel" would be seen by OPEC producers as an opportunity to invest in the expansion of output capacity.
The US energy secretary was speaking to reporters in Paris. He noted Saudi Arabia's stated plan to boost capacity to 12.5 million b/d and hoped that current oil prices would spur OPEC countries to invest more in upstream production capacity.
Updated: May 14, 2007
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