Iran says oil could reach $500 on dollar, politics

Tehran: Iran's OPEC governor said world oil prices could reach as high as $500 per barrel in a few years' time if the US dollar falls further and political tension worsens, an Iranian weekly said.

"If the dollar's value continues to decrease and if the political crisis becomes worse, the oil price would reach up to $500," Mohammad Ali Khatibi told Shahrvand-e Emrooz in an interview published on Saturday.

He was asked about predictions that oil prices could reach up to $200 per barrel in the next two or three years.