RIYADH (Thomson Financial) - Venezuelan President Hugo Chavez warned on Saturday that oil prices could hit 200 usd a barrel if the United States attacked Iran or Venezuela, in an opening speech at a summit of OPEC leaders.
'If the United States was mad enough to attack Iran or aggress Venezuela again the price of a barrel of oil could reach 150 usd or even 200 usd,' he said.
'The basis of all aggression is oil. It is the underlying reason,' he said, pointing to the war in Iraq and US threats against Iran.
'Today OPEC stands strong. It is stronger than it has ever been in the past,' he said. 'OPEC should set itself up as an active geopolitical agent.'
He also suggested the 12-member organisation should 'ask the most powerful nation in the world to stop threatening OPEC', referring to the United States. tf.TFN-Europe_newsdesk@thomson.com afp/am COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.