Venezuela says no evidence oil price hurting demand

CARACAS (Reuters) - Oil price hawk and major exporter Venezuela said on Friday there is no evidence record crude values are hurting demand despite economists' predictions the cost could dent demand and trigger a sharp price fall.

Venezuela's oil minister Rafael Ramirez also reiterated to reporters the OPEC member's position that oil markets are well-supplied and any decision on changing output levels should be taken at OPEC meetings.

Many analysts think oil prices, which closed above $140 a barrel on Friday, will hit at least $150 a barrel before they come down sharply.

"At that point, we will start to see more signs of demand destruction and an eventual tipping point in oil markets," said Deutsche Bank in a research note.

The United States and other consumer nations have pressured OPEC to increase supply to try to tame record prices and the world's largest producer, Saudi Arabia, a U.S. ally, has upped its output in recent weeks.

Venezuela's anti-U.S. President Hugo Chavez has resisted such calls for more oil, complaining OPEC is made a scapegoat for the price rises to distract from another factor behind the record values -- a weak American dollar.

Oil prices have jumped more than 45 percent this year, extending a six-year rally, as supply struggles to keep pace with rising demand from emerging economies, such as China and India.

Some experts insist supply and demand are behind oil's record rise, while others, including OPEC, say rising flows of speculative cash are behind this year's gains.

(Reporting by Brian Ellsworth; Writing by Saul Hudson; editing by Carol Bishopric)