OPEC would not want crude to trend below $42 a barrel: Ayers

Iran rejected on Tuesday an offer from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supply, dashing market hopes the two major OPEC producers would find a compromise this week to help ease a global glut of crude.Speaking to CNBC-TV18 Jonathan Barratt of Ayers Alliance said that he believes that OPEC does not need prices to go below USD 42 a barrel. Barratt also spoke about the upcoming Vienna meeting this month end. 
Talking about it, he said talks of a freeze will always be on the table, if prices are below. "But if prices hover around higher, then I don’t think it is on the agenda," he said. USd 50 will be a comfortable level for crude, he said. Watch video for more...