PARIS (AFP) -- OPEC Secretary General Abdullah al-Badri told AFP on Wednesday that high oil prices were not caused by a shortage of oil supplies and that other factors were to blame.

""Let me be clear, the high prices which we are witnessing are not because of any shortage of crude oil in the market,"" he said in a statement emailed to AFP.
On a tour of the Middle East, U.S. President George W. Bush raised the issue of high oil prices during his talks with King Abdullah of Saudi Arabia, whose country is the world's top crude producer and the most influential OPEC member.
Bush's spokeswoman Dana Perino said Wednesday that there was hope that ""as a result of these conversations that OPEC would be encouraged to authorize an increase in production.""
Ministers from the 13-member cartel, which pumps about 40 percent of world crude, are to gather in Vienna on February 1 for a special policy-setting meeting.
Badri, after stressing that the organization saw no shortage, said OPEC would be prepared to increase production if it saw evidence that supply and demand were out of balance.
""OPEC is constantly monitoring the oil market and if at any time fundamentals justified such a move, the organization stands ready to raise production,"" he said.
He added: ""I would like to reiterate that this price trend is a consequence of persistent geopolitical tensions, the weakening of the U.S. dollar, ongoing limitations and restraints in the U.S. refining system and the increasing role of speculators in the oil market.""
Oil prices were around 90 dollars per barrel on Wednesday after spiking to a record above 100 dollars for the first time earlier this month.