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Fat Prophets expects Brent crude to trade in range of $74-84/ bbl going ahead

Updated : November 14, 2018 10:19:34 IST

Oil markets remained on a weak footing on Wednesday after a 7 percent slump the previous session, with surging supply and expectations of faltering demand pressuring crude prices.

CNBC-TV18 spoke to  David Lennox, research analyst at Fat Prophets, about his outlook on oil markets and global oil demand.

"We stick to range of $74-84 per bbl for Brent going ahead," said Lennox on Wednesday.

Lennox expects further contraction in oil demand in 2019. "October numbers showed an increase in Organisation of the Petroleum Exporting Countries (OPEC) production," he added.

 

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