According to Fereidun Fesharaki of FACTS Global Energy, crude prices are unlikely to touch USD 100/bbl until 2030.
On the new exploration licensing policy (NELP) front demand is very anemic and companies outside India don't seem interested in it said Fereidun Fesharaki, Chairman, FACTS Global Energy.
According to Praveen Kumar, the Iran deal is a good thing for Indian refiners because this means the pressure can come off a bit and they can start looking at some of these insurance type issues, but in terms of real price the market continues to stay strong.
WTI is strengthening because of issues relevant to the US, but Brent prices won't stay at higher levels for a long period of time, says Praveen Kumar, Head-South Asia Oil & Gas at FACTS Global Energy.
Praveen Kumar of FACTS Global Energy tells CNBC-TV18 that the price of Brent crude is expected to fall further from current levels.
Praveen Kumar, FACTS Global Energy sees Brent around USD 120 per barrel in the short-term.
Oil prices surged nearly USD 4 per barrel on Tuesday morning on tensions across Iran. Praveen Kumar of Facts Global Energy says, the tension from Iran is quite relevant. He sees Brent averaging out around USD 108 per barrel in quarter one of 2012.
Praveen Kumar, senior consultant, head-south Asia oil and gas team at FACTS Global Energy believes that Brent crude will approach USD 100 per barrel towards the end of the year.
Praveen Kumar, Head of the South Asia Oil and Gas Team from FACTS Global Energy, in an interview with CNBC-TV18's Udayan Mukherjee and Mitali Mukherjee, feels that IEA move as dramatic. He said that IEA's move is mainly because OPEC talks which didn’t go through and fell instead.
Crude oil prices would cool down only once Middle East and North Africa (MENA) tension subsides, said Praveen Kumar senior consultant and head of South Asia oil & gas team at FACTS Global Energy. "Until then it may remain buoyant," he added.
Speaking to CNBC-TV18, Praveen Kumar, head-south Asia (Oil and Gas Team), FACTS Global Energy said the crude oil movement dependent on geopolitical tensions.