Venezuelan President Hugo Chavez said on Sunday oil prices could hit $300 per barrel if U.S. oil company Exxon Mobil again freezes Venezuelan assets in a dispute over a nationalized oil project.
Exxon (XOM.N: Quote, Profile, Research) won court orders freezing $12 billion in assets held by Venezuelan state oil company PDVSA after the OPEC nation took over a multi-billion dollar oil project, heightening tensions with the United States and helping to raise oil prices.
http://uk.reuters.com/article/rbssEnergyNews/idUKN1338614020080713