The top official in the French oil giant Total anticipates a new rising trend in oil prices would continue, saying he would not be surprised to see a barrel of crude reach the $100 mark in coming months.

Patrick Pouyanné said at an event held by a Washington think tank on Thursday that new geopolitical developments continued to affect the international oil markets, citing issues like a potential ban on Iran’s oil sale due to US President Donald Trump’s decision to withdraw from the Iran nuclear agreement as well as Venezuela’s inability to properly tap its oil reserves due to economic problems.

“You have the announcement on Iran, which is pushing the price up,” said Pouyanné, adding, "On top of it you have Venezuela ... The situation is catastrophic and the production is declining.”

For the first time since November 2014, a barrel of North Sea Brent was briefly traded for over $80 on Thursday.

The sharp rise comes as many fear Trump’s recent announcement to re-impose sanctions Iran could seriously affect oil markets.

Pouyanné said Iran’s production increased by one million barrels after sanctions on the country were lifted as part of the 2015 nuclear agreement. He said Trump’s decision to re-impose the sanctions would undermine the increased production.

He also said that a decision by the Organization of the Petroleum Exporting Countries and Russia to reduce production, which came in November 2016 and will continue until the end of 2018, have also played a role in nudging the oil prices higher.

"So I wouldn't be surprised to see $100 per barrel in the coming months,” he said.