Vienna- With enough supply to meet demand, there was no reason why oil prices should be as high as 135 dollars a barrel, the secretary general of the Organization of the Oil Producing Countries (OPEC) said Thursday.

But if Iran were attacked, OPEC could not replace that country's output, he warned.

"There is plenty of oil in the market, there is plenty of oil in the stocks", OPEC Secretary General Abdalla Salem El-Badri said.

The high OPEC price was not due to market fundamentals, but to the low dollar value, political problems in the Middle East, oil speculation and bottlenecks in refineries, El-Badri said during a presentation of the organizations's statistical yearbook and oil outlook.

In response to a journalist's question, El-Badri warned that OPEC had no contingency plans if Iranian oil supply were disrupted after an Israeli attack on Iran.

As Iran was OPEC's second largest oil producer, "it is impossible to replace the production of Iran," he said.

The 13 mostly Middle Eastern and Latin American members of OPEC produced 44.9 per cent of the world's crude oil in 2007. (dpa)