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Iran says oil price could reach $150 per barrel on EU embargo

Reuters, Sunday 29 Jan 2012
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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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