Watch the interview of Amrita Sen of Energy Aspects with Manisha Gupta on CNBC-TV18. She speaks about the current trends in crude oil in the commodities market.
Watch the interview of Amrita Sen of Energy Aspects with Latha Venkatesh and Surabhi Upadhyay on CNBC-TV18. She speaks about the current trends in crude.
A no-deal between producers at the Organisation of Petroleum Exporting Countries' (OPEC) ongoing Algeria meet may cause prices to slip to even below USD 40 a barrel, feels Amrita Sen, Chief Oil Analyst at Energy Aspects.
After climbing over eight percent last week oil fell over 3 percent today. Little bit of correction was expected after the steady rise seen in last few days, says Amrita Sen, Chief Oil Analyst at Energy Aspects.
There‘s been a big risk of trade in crude oil, mainly because of oversupply of products in the market which is prompting refineries to cut back on crude processing, said Amrita Sen, Chief Oil Analyst, Energy Aspects. Going ahead, the upside to oil is very high given that fundamentals are strong, she said.
Talking about the Organisation of Petroleum Exporting Countries (OPEC) meeting scheduled for June 2, Amrita Sen expects no "fireworks" from it and says that there is a slim chance that all members would agree on a production level.
"As the sanctions have been lifted, Iran is free to sell its crude to whoever it wants and they are planning to target Europe, where they have completely lost market share," Mriganka Jaipuriyar of Platts said.
Brent crude has been trading around USD 36 per barrel and WTI Nymex has been around USD 34 per barrel mark.
Watch the interview of Amrita Sen Chief Oil Analyst Energy Aspect with Nayantara Rai on CNBC-TV18, in which she shared her reading and outlook on crude oil market.
Oil dropped on Tuesday after Iran and six global powers reached a landmark nuclear deal that would see an easing of sanctions against Tehran and a gradual increase in its oil exports.
Under the deal, sanctions imposed by the United States, European Union and United Nations will be lifted in return for Iran agreeing long-term curbs on a nuclear programme that the West has suspected was aimed at creating a nuclear bomb.
However, in an interview, Amrita Sen of Energy Aspects said she expects supply to fall by the fourth quarter of this year, as US shale rig counts continue to fall and capex cutbacks feed through the system.
Michele Della Vigna, head of European energy research at Goldman Sachs, said non-OPEC oil producers had created the oversupply in the market which has weighed on prices.
Watch the interview of Amrita Sen, Chief Oil Analyst at Energy Aspects with Nayantara Rai on CNBC-TV18, in which she shared her readings and outlook on crude.
The recent spike in oil prices may continue to take it even higher, in the USD 60 range, in the short term, but over the medium term, oil will again fall back to the 40s or 50s, believes Amrita Sen, Chief Oil Analyst, Energy Aspects.
Amrita Sen, chief oil analyst with Energy Aspects says USD 40 a barrel is definitely a possibility. She says in these kinds of market it is difficult to call a bottom considering the last USD 20 move wasn‘t justified by fundamentals.
Amrita Sen, chief oil analyst, Energy Aspects says crude prices will continue to fall further in short-term. However, once it stabilises in USD 68-80 per bbl range, the prices may start picking up in the second half of the year.
World equity markets advanced on Friday, on track to end the quarter with double-digit gains, as reports showing the U.S. economy and consumer sentiment still on the road to recovery helped buoy prices.
A lot of geo-political tensions have pushed up crude prices. Amrita Sen, Barclays Capital sees Brent around USD 110 per barrel in Q1 and USD 118 per barrel in Q2. “The average for the year is USD 115 per barrel. Oil would be one of our top picks,” she adds. She expects gold prices to edge up in the coming months.
Amrita Sen, Oil Analyst at Barclays Capital, in an interview with CNBC-TV18’s Meneka Doshi, said that the crude hasn’t shown any signs of slowdown on the back of the IEA release.
Amrita Sen, Commodity Analyst at Barclays Capital in an interview with CNBC-TV18’s Menaka Doshi talks about what impact this breakdown in talks could have to OPECs oil production.
Amrita Sen of Barclays Capital, in an interview with CNBC-TV18’s Udayan Mukherjee and Sonia Shenoy, spoke about the rumblings in the crude market.
Amrita Sen, Assistant Vice President, Commodities Research, Barclays Capital, In an interview with CNBC-TV18’s Mitali Mukherjee and Sonia Shenoy, discussed about the impact in oil prices due to the agreement of peace plans by Libyan leader.
Amrita Sen, AVP - Commodities Research at Barclays Capital, in an interview with CNBC-TV18’s Shereen Bhan and Elan Dutta gives her perspective on how the Egyptian crisis is weighing on sentiment across the world, especially on crude oil prices.