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homemarket Newscommodities NewsCrude oil prices to trade in range of $50 to $70 per barrel, says Moody's

Crude oil prices to trade in range of $50 to $70 per barrel, says Moody's

Crude oil prices are likely to stay in the range of $50 to $70 per barrel, with muted volatility, said Vikas Halan, SVP - Corporate Finance Group at Moody's Investors Service.

By CNBC-TV18 Feb 12, 2019 1:06:17 PM IST (Published)

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Crude oil prices are likely to stay in the range of $50 to $70 per barrel, with muted volatility, said Vikas Halan, SVP - Corporate Finance Group at Moody's Investors Service. "The volatility has been a little bit muted over the last couple of months but still volatile and that is largely to do with not a lot of drivers coming in."

He expects the volatility may get back on the back of OPEC production cuts and Iran sanctions appealing back in April.

Halan further said, “We think there is a possibility that demand growth might just be underwhelmed given how the weak economic sentiment is and if the trade talks between China and US do not resolve and the tariff goes up then there would be further pressure on the demand side.”

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