Oil could reach 80 US dollars barrel in extended war: Forecast 02/26/2003 21:37:35 Wellington (dpa) - The price of oil could reach 80 U.S. dollars a barrel - four times the long-term average - in the worst case scenario of an extended war spreading outside Iraq, the New Zealand Treasury predicted in a report released on Thursday. The most immediate impact of a war in Iraq would be a rise in the oil price to about 40 U.S. dollars a barrel, as happened during the 1990 Gulf War, Treasury officials told Finance Minister Michael Cullen. But this could double for...
