Iran sees rise in oil prices, if you are interested in learning more about the year by the end of 2011 (AFP)

TEHRAN (AFP)-Iranian, who chairs the oil producers ' cartel, OPEC, said on Tuesday it expects the global crude prices continue to rise by the end of 2011, the Secretary-General called on the wealthy G8 countries reduce fuel taxation.

"The oil price will depend on two things. First, the basics, such as the demand and supply, and then in the political, psychological and unforseen elements. In the light of these factors should be included in the price of oil by the end of the year again, "the Iranian representative to the OPEC STATES, Mohammad Ali Khatibi, told Tehran journalists.

He said oil demand in 2001 is high, 1.3 million barrels per day to 1.6 mbpd.

"What is certain is that we will see demand growth," he said.

On Monday, the Secretary General of OPEC, Abdullah El-Badri had expressed its concern over high oil prices, but added the market had adequate supplies of raw materials.

"We see that at this time is 15-20 dollar risk premium," Badri told Kuwait journalists.

On Tuesday he was in Tehran for the 50th anniversary for OPEC and reiterated that, with the crude oil market was adequately.

He said the market was not "no shortage" of oil. "OPEC has repeatedly said there is no shortage of oil throughout the world and the stocks are high," El-Badri told reporters.

"OPEC is done in turn ensure that the market has sufficient supplies of crude oil and is useful with this challenging time-consuming countries, which impose high taxes on oil, even on a temporary basis, because we see an exceptional solution for taking that needs repair."

"We ask the Governments of the G8 countries, which are formed of more taxes and more money in taxes than producing Nations not to sell. We will reduce taxes, "El-Badri said.

"I think the market is comfortable and we (OPEC) already have 4.5 million barrels a day, that we can send the placing on the market. (there is) the fair market and stocks are high, "he added.

El-Badri said that crude prices remain above $ 100 per barrel, the remainder of the year, when asked if prices fall below this level.

Trade in oil fell to Asia Tuesday the invoice after Standard and Poor's report on the United States but geopolitical risks continue to drive the prices of the countries of the Arab higher, analysts said.

New York, circumvent the light sweet crude for may delivery, the vacuum pump 27 cents to 106.85 dollars a barrel, while Brent North Sea crude for June eased 35 cents 121.26 dollar in the afternoon.