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The price of crude oil could soon reach $100 a barrel, compared with the present historic high of $60, if there was further supply disruption in Russia or a political upset in Saudi Arabia, a leading German institute said.
The IFW World Economics Institute in Kiel said that any number of "unwelcome developments" could provoke a crisis. Given that the industry was already producing at full capacity to meet soaring demand in China and India, there was almost no margin to absorb a sudden supply shock.