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WSJ:EU Energy Commissioner Says Not Worried About High Oil Price
 
DOW JONES NEWSWIRES

STOCKHOLM (Dow Jones)-- The European Union wants to discuss supply and oil prices with OPEC at a Vienna meeting scheduled for later this month, EU Energy Commissioner Gunther Oettinger told Dow Jones Newswires Tuesday on the sidelines of a conference.

Representatives of the European Union and OPEC are to meet in Vienna June 27 to discuss energy matters.

The meeting between the EU and OPEC comes only weeks after the oil producer's group failed to reach an agreement to boost output following an acrimonious gathering

"We want to speak (with OPEC) about security of supply for 2011 and 2012 and to speak about what is a feasible price," Oettinger said.

Asked whether he was worried about a high oil price, the commissioner said: "No, I'm not worried".

Oil prices were up again modestly Tuesday .On the New York Mercantile Exchange, light, sweet crude futures for delivery in July traded at $97.52 a barrel at 0706 GMT, up $0.22 in the Globex electronic session. July Brent crude on London's ICE Futures exchange rose $0.10 to $119.20 a barrel.

Oettinger's remarks came on the sidelines of a conference organized by Eurelectric, the association of the electricity industry in Europe.

-By Katarina Gustafsson, Dow Jones Newswires +46-8-5451-3097; katarina.gustafsson@dowjones.com
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