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Opec: $500/bbl spike would be about Iran


Published Jul 28, 2008
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Straits of Hormoz

The price of oil could reach $500 a barrel if the U.S. dollar beginsa new slide and political tension over Iraq increases, Iranian Opec governor Mohamed Ali Khatibi was reported as saying by news agency Reuters, which cited Shahrvand-e Emrooz, a Teheran weekly paper.

The paper also reported Opec president Chakib Khelil saying Iran-related tension alone has been responsible for market jitters and higher prices. Prices are down now on less tension.

“I don’t see a fall in demand, I don’t see destruction of demand,” Khelil reportedly said. “Supply is the same, or has increased,” he added.




   

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