Crude oil could test lower values, feels Platts

Speaking CNBC-TV18, Dave Ernsberger of Platts said that the demand for crude is growing faster than expected. Stockpiles of oil are not falling as fast as markets had expected, he said.

"We have been in a recession in the oil market for two years." He expects oil to test lower values. The US rig activity has started to recover again, he said, adding that people are wary of the impact of the Brexit.

The demand has risen at a rate of over 1.4 million barrels per day. Watch video for more...