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Posted AT 6:40 AM EST on 09/07/08

Iran blames G8 for high oil prices

Reuters

TEHRAN — Iran's OPEC governor said on Wednesday the oil market was saturated and blamed policies of the Group of Eight rich countries for a price surge, the state broadcaster reported on its website. Oil prices hit a record highs last week above $145 (U.S.) a barrel, although they have since slipped around $10. This prompted G8 states at a meeting in Japan to call for more output.

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