Many factors behind record oil prices: OPEC

VIENNA (Reuters) - Record high oil prices near $80 a barrel are being caused by many factors apart from supply and demand, said a senior OPEC official on Thursday.

"There are so many things that affect the price of oil," Hasan Qabazard, director of OPEC's research division, told reporters at a press conference.

"We have a storm working its way to American facilities. We have an economic crisis, so many things are affecting...prices."