Iran sees oil at $200 a barrel soonadmin
Iran’s oil minister predicted oil prices will soon rise to $200 per barrel, the official IRNA news agency reported.
Oil Minister Gholam Hossein Nozari attributed crude’s recent spike to production slowdowns in Nigeria and the dollar’s weakening against other currencies. A number of analysts around the world have cited both factors as contributing to the recent surge in crude.
“The time when the price of oil is $200 a barrel is not far,” Nozari was quoted as saying. “In fact oil has not been expensive, the dollar has been weak,” he added.
Iran is the second-largest producer in the Organization of Petroleum Exporting Countries.