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Our Bureau

New Delhi, May 2

Iran, which is the fourth largest oil producer, has predicted that crude oil prices might touch $100 per barrel by this winter. Asked if crude prices could touch $100 a barrel, the visiting Iranian Deputy Oil Minister, Mohammad Hadi Nejad Hosseinian, said that `it is possible'.

"It is possible because market shows that demand is greater than supply, and supply in short term cannot be increased," he told newspersons after meeting the Petroleum Minister, Mr Murli Deora. The Minister said the geopolitical factors were fuelling the price surge. World oil prices have already touched $75 a barrel in key global markets, including in London and New York.

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