Watch the interview of Azlin Ahmad Editor-Crude Oil Argus Media with Manisha Gupta on CNBC-TV18, in which she shared her reading and outlook on commodity markets and crude in specific.
Watch the interview of Azlin Ahmad, Editor-Crude Oil, Argus Media with Manisha Gupta on CNBC-TV18, in which she shared her reading and outlook on commodity markets, particularly on crude oil.
The current downward trend in oil is due to the uncertainty over upcoming US elections, believes Azlin Ahmad of Argus Media.
Experts give their reading and outlook on commodity markets and specific commodities.
Speaking to CNBC-TV18 Azlin Ahmad, Editor, Crude Oil, Argus Media, said that it is unlikely that Iran will agree to a production cut in the OPEC meeting in the third week of September.
Calling this an act driven by geo-politics and not by economics, Oppenheimer senior analyst Fadel Gheit says it is not the US shale but Saudi Arabia, which is 'playing a game and using oil as a weapon' to austere supply in Asia from Iran and Russia.
Azlin Ahmad, Editor, Crude Oil, Argus Media does not expect any fundamental impact on oil pries from this output freeze. She expects ICE Brent to trade around USD 30-31/barrel in February-March.
Watch the interview of Azlin Ahmad, Editor-Crude Oil at Argus Media with Ekta Batra and Anuj Singhal on CNBC-TV18. She spoke about the current trends and pressure on crude.
Azlin Ahmad, Editor, Crude Oil at Argus Media says the market had already expected the slump in US September crude production.
If exports from Libya resume then Brent prices may hover at low USD 100 per bbl, if not then it will probably continue at present levels or a couple of dollars higher, says Azlin Ahmad of Argus Media.
Azlin Ahmad of Argus Media feels if there is further unrest in the Middle East, prices may rise a couple of dollars. However, he is not very hopeful of seeing oil prices going up significantly.
Azlin Ahmad of Argus Media believes superstorm Hurricane Sandy is likely to put a cap on the crude oil prices. She said it would likely result in the refineries being shut or reduction in operations.
Azlin Ahmad, Argus Media says crude will remain rangebound for a while.
Crude price has witnessed a rally over the last couple of sessions. In an interview to CNBC-TV18, Azlin Ahmad of Argus Media says brent can go a little bit higher. "It is going to be very hard for prices to go significantly higher because the fundamentals have not changed at all," she adds.
Azlin Ahmad, Argus Media, says that the problem in supply due to planned maintenance in the North Sea and pipeline explosion from Iraq to Turkey are the two factors that have pushed up prices of Brent.
In an interview with CNBC-TV18, Azlin Ahmad, Editor, Crude Oil, Argus Media said that fears of EU sanctions against Iranian crude will keep prices towards USD 100 level. He also does not expect Brent crude to correct to USD 80 levels even in a worse case scenario. It is likely to trade between USD 95-100 per barrel, opined Ahmad.
Azlin Ahmad of Argus Media sees Brent crude prices slipping further in the future because of the crisis in the eurozone.
Azlin Ahmad of Argus Media tells CNBC-TV18 that she expects Brent crude prices to see more upside from current levels.
In an interview to CNBC-TV18, Azlin Ahmad of Argus Media says, Nigeria is going to be a big factor for the crude oil in the near-term.
Azlin Ahmad of Argus Media tells CNBC-TV18 that thestrength in crude prices is because of fears of supply disruptions.
In an interview to CNBC-TV18, Azlin Ahmad of Argus Media says, Brent will be range-bound in the short-term. "We don’t see Brent falling below USD 100-105 per barrel. The ceiling would be about USD 105 to 110 per barrel."
Due to the present uncertainties globally, crude has been on its longest losing streak since August. According to Azlin Ahmad of Argus Media, crude in the short-term will still go low.
In an interview to CNBC-TV18, Azlin Ahmad, editor, crude oil of Argus Media said, Brent crude is going to be pretty steady in the near-term. According to her, Brent will probably hover between USD 105 and 110 per barrel over the next couple of weeks.
Azlin Ahmad, editor of crude oil at Argus Media said that Brent could slip below USD 100, if further negative data comes out this week.
Although crude has gained for a second straight session, Jason Feer, Vice President and Singapore Bureau Chief, Argus Media says, the risk is really more on the downside than on the upside.