Will the crude price fall?

Here is a report from Economic Times, Delhi which says that is possible.

Read here.
Crude oil could slip to $78 a barrel: Opec chief
Economic Times, New Delhi, July 30, 2008

Crude oil prices above$120 a barrel are abnormal and could fall to $78 under the right circumstances, Opec president Chakib Khelil said here on Tuesday. If the dollar continues to strengthen and the political situation (regarding Iran) improves, the long-term price will be $78," Khelil told reporters in Jakarta, adding the market was well supplied with oil. Crude prices have doubled over two years but fallen from record highs of $ 147 a barrel reached earlier this month. They were trading at $125 on Tuesday. "There's a balance in the market. I would say stocks are at a good level and there hasn't been a disruption in demand," Khelil said.