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Last Updated : Sep 28, 2016 07:51 PM IST | Source: CNBC-TV18

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

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.


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...



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First Published on Sep 28, 2016 08:46 am
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