Quote on Crude Oil : A possible global economic downturn, demand uncertainty from China Says Hareesh V, Geojit Financial Services
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Quote on Crude oil outlook from Hareesh V, Head of Commodities at Geojit FInancial Services.
A possible global economic downturn, demand uncertainty from China, a build-up in inventories, and a possible surge in US output are the major reasons for the correction in oil prices. The recent output cut from OPEC and a possible shortage of Russian barrels are less likely to impact global oil prices due to concerns over demand from consuming countries. At the same time, since the present supply-demand dynamics of the fuel remain well balanced, significant changes in prices are less likely in the immediate future.
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