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Ahmadinejad Predicts Oil Prices Will Soon Reach $150 p/b

Service : Economy
TEHRAN, April 4 (ICANA) – The Iranian president says current oil prices are too low and predicts they will jump to $150 a barrel soon.
Monday, April 04, 2011 11:23:41 PM
Ahmadinejad Predicts Oil Prices Will Soon Reach $150 p/b

Mahmoud Ahmadinejad spoke in Tehran on Monday about several topics. He didn't explain the basis for his prediction.

Oil prices jumped to fresh 30-month highs above $108 a barrel Monday as the conflict in Libya extended market concerns about supply risks and signs of a recovering U.S. jobs market bolstered optimism that global crude demand will strengthen.

Iran traditionally pushes for higher prices.

The country is OPEC's second largest exporter with an output of 4.2 million barrels per day but it's also one of the most dependent on oil exports, with some 80 percent of its foreign revenue coming from oil sales.

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