Moneycontrol
Last Updated : Jan 10, 2018 08:58 AM IST | Source: CNBC-TV18

Expect oil prices to sustain at USD 70/bbl level: Mark To

Oil prices have hit their highest level since 2014on the back of ongoing production cuts led by the Organization of the Petroleum Exporting Countries (OPEC) as well as healthy demand. In an interview with CNBC-TV18, Mark To, Head of Research at Wing Fung Financial Group shared his views and outlook on the same.

CNBC TV18 @moneycontrolcom

Oil prices have hit their highest level since 2014 on the back of ongoing production cuts led by the Organization of the Petroleum Exporting Countries (OPEC) as well as healthy demand.

In an interview with CNBC-TV18, Mark To, Head of Research at Wing Fung Financial Group shared his views and outlook on the same.

Oil prices are going to be on track. We are looking for further upside in crude prices, he said.

Confident that oil prices will move up, he added.

According to him, oil prices will sustain at USD 70 per barrel market.

I will tend to be an optimist in oil prices, said Mark To.

If you look at the statistics, the US rig count has been decreasing. I think USD 70 per barrel should be readable for January-March quarter, he further mentioned.

For full interview, watch accompanying video...
First Published on Jan 10, 2018 08:58 am
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