Amidst reports that Iran refused to halt its nuclear programme despite the threat from major powers of increased UN sanctions, OPEC's Secretary General Abdullah al-Badri stated that it would be impossible to replace Iran's oil output in the case of disruption due to an attack on Iran. The country was pumping around 4 million barrels per day (bpd) of oil. It was the second largest producer in the OPEC supplying over 4 percent of global oil supply. Its exports amounted to around 2.5 million bpd. Tehran on its part has threatened to impose controls on shipping if attacked and warned Gulf neighbours of reprisals if they played any role in such an attack. The US Navy has asserted that it would not allow Iran to block the oil shipping route1.

• 1. “Energy supplies at stake if Iran attacked,” Forbes.com, August 04, 2008, at http://www.forbes.com/reuters/feeds/reuters/2008/08/04/2008-08-04T092659...