* Oil prices currently at an acceptable level
* OPEC members "know their share" of collective output
* Iraq's production not a discussion for OPEC this year
(Adds quote in third paragraph, further details on prices,
By Alex Lawler
LONDON, Jan 27 OPEC will be able to handle the
extra oil expected to come from Iran, Iraq and Libya, OPEC's
secretary general said on Monday, insisting the group would
collectively head off any oversupply.
Top OPEC supplier Saudi Arabia along with core Gulf
producers the United Arab Emirates and Kuwait have increased
supplies to fill the gap left from outages in Libya and Iraq and
Western sanctions on Iran.
A resolution of these issues could add at least 2 million
barrels per day (bpd) to OPEC oil production, analysts say,
potentially driving down oil prices unless the other countries
cut back on production.
"When they come, we will accommodate them, and OPEC will be
as before," Abdullah al-Badri said at a briefing with reporters
at a London conference. "We've faced a lot of difficulties in
the past, and we were able to overcome them, and this we will
The Organization of Petroleum Exporting Countries, which
pumps more than a third of the world's oil, has set a collective
target for its 12 members to pump 30 million bpd but has not
specified each country's individual share. That could make it
harder for the group to enforce cutbacks.
But Badri, who has frequently indicated that a set of
individual output limits exists within the 30 million bpd
target, said members knew what their shares of overall
production should be.
"When we agreed this 30 million bpd, everybody knows his
share," he said. "So when Libya, Iran will come back, everybody
will know his share."
UAE Oil Minister Suhail bin Mohammed al-Mazroui, who was
also attending the conference at London's Chatham House, said
the eventual full resumption of Iranian production and exports
was not unduly worrying.
"That's a discussion that's going to happen under OPEC ...
I'm not concerned, to tell you the truth. You need to look at
the bigger picture," he said.
"OPEC's concern is to keep the market well supplied."
Strikes and protests in Libya, violence and bad weather in
Iraq as well as sanctions against Iran have helped reduce OPEC
production over the past year.
A Reuters survey this month showed OPEC's oil output fell in
December to the lowest since May 2011 at around 29.53 million
bpd, from 29.64 million bpd in November.
Badri declined to predict the outcome of OPEC's next meeting
to be held in June, although he said prices were "comfortable"
for producers and consumers at the current levels - around $107
a barrel for Brent crude.
The prospect of rising Iraqi production and whether Iraq
would agree to an OPEC output cap has long been a issue for
OPEC. Badri did not expect Iraq to be a topic in 2014.
"I don't think there will be a discussion of Iraqi
production this year," he said.
(Reporting by Alex Lawler; Editing by Christopher Johnson and