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'Crude oil may touch $100 a barrel'

World oil prices have already touched $75 in key global markets, including in London and New York.

india Updated: May 02, 2006 16:12 IST

Iran, the world's second largest oil producer, on Tuesday predicted that crude oil prices might touch $100 a barrel by the winter of 2006.

Iranian Deputy Oil Minister Hadi Nejad Hosseinian, who had last year predicted that crude prices will touch $70, on Tuesday said: "It is possible", when asked if crude prices could touch $100 a barrel.

The minister, who is in New Delhi to meet Petroleum Minister Murli Deora, said that the global demand for oil was much higher than the supply and geopolitical factors were fuelling the price surge.

World oil prices have already touched $75 in key global markets, including in London and New York.

First Published: May 02, 2006 14:27 IST