Iran's deputy oil minister, M. H. Nejad Hosseinian, on Tuesday said crude oil prices are likely to hit US $100 a barrel this coming winter as demand outpaces supply.
"By winter, it is very much possible," Hosseinian said, when asked by reporters if global crude prices would peak at around US $100 barrel.
"Oil supply in the short term cannot be increased," he told reporters in New Delhi, according to Dow Jones newswires.
Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>