"There is no shortage, no crisis in the global oil supply"

Thats the words Abdullah bin Hamad al-Attiyah, energy minister of Quatar said some days before.He also said that that oil prices are being driven to record-high levels by speculation, rather than any supply shortage. but heating oil is priced more than 70 percent above year ago levels, with November futures trading at $1.408 per gallon.Furthermore he highlighted that insufficient refining capacity in the United States was contributing the problem.
The article is here.