Brussels (Platts)--24Jun2008

OPEC is "concerned" over oil high prices as they are eating into demand
for its crude, current OPEC President Chakib Khelil said Tuesday.

"We are concerned about the high level of prices because it's basically
destroying demand," Khelil told a press conference in Brussels after a meeting
with senior EU officials.

Khelil also played down fears that supply was failing to keep pace with
demand, saying he did not believe fundamentals were to blame for current high
crude prices.

"Basically fundamentals, as far as we are concerned, even if they have
had an impact, they would not have such a substantial impact on prices. Right
now we have more supply than demand, because demand has decreased," he said.