Oil Price To Have s Serious Impact on OPEC Oil Demand

Uncertainty over future demand for OPEC's oil is clouding the investment picture for major producers already spending hundreds of billions on boosting energy capacity.

Oil rprices rise from below $50 in January to a lifetime high of $98.62 last week has already dented fuel consumption -- especially in top consumer the United States -- casting doubt on future demand projections.

''High prices could have a serious impact on future demand for OPEC oil,'' Kuwait's acting oil minister Mohammed al-Olaim said on Thursday at a symposium ahead of a meeting of OPEC heads of state on Nov. 17-18.