Crude prices to hit highest level in autumn: Ghanimifard

Crude prices will hit their highest level in autumn this year if the market variables continue to affect the prices in absence of any oversupply by the OPEC and non-OPEC members, said a senior Iranian official here on Saturday.

Deputy head of National Iranian Oil Company (NIOC) for International Affairs Hojjatollah Ghanimifard told IRNA that statistics available show the oil market will witness 1,200,000 bpd to 1,500,000 bpd increase in the demand for oil in autumn compared to summer.

http://www.tehrantimes.com/Description.asp?Da=8/22/2005&Cat=9&Num=12