Oil price volatility reflects uncertainty: OPEC

WASHINGTON (Reuters) - Volatility in global oil prices reflect growing economic uncertainties in the wake of recent turmoil in credit and money markets, OPEC said on Friday in a statement prepared for a meeting Saturday of IMF members.

"The recent price volatility reflects the growing economic uncertainties in the wake of the recent financial turbulence, which have further clouded the outlook for the U.S. and world economic growth, and hence demand for oil," the Organization of Petroleum Exporting Countries said.

It also said a weaker dollar had also supported higher oil prices.