OPEC has no extra oil to immediately supply the world market to cool record-high prices, the head of the group said Tuesday.
"The oil price is very high, it's crazy. There is no additional supply," said OPEC president Purnomo Yusgiantoro, who is also Indonesia's oil minister.
U.S. oil hit a high of $44.24 a barrel Tuesday, the highest since crude futures were launched on the New York Mercantile Exchange in 1983. London's Brent crude jumped 48 cents to hit a high of $40.45 a barrel.
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