Iran: Oil price could reach $150 per barrel on EU embargo

By REUTERS
January 29, 2012 12:45

 
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TEHRAN - Iran said on Sunday that oil prices could reach $150 per barrel as a result of the European Union's ban on imports of oil from the country, deputy oil minister was quoted as saying by the official IRNA news agency.

"Although a precise prediction cannot be made on the oil prices, it seems we will witness $120 to $150 oil price per barrel for future," said Deputy Oil Ministry Ahmad Qalebani.

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