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Brent crude prices haven’t bottomed just yet: Platts

In an interview to CNBC-TV18, Hari says brent crude is likely to see a downward slope even in 2015, but unlike 2014, the descent won’t be as dramatic.

Brent crude prices haven't bottomed just yet: Platts

Oil has played havoc for many economies such as Russia and Dubai but it has benefited India. Brent crude has this year taken most investors by surprise with a 45 percent year-to- date (YTD) fall. And if one goes by what Vandana Hari, Asia Editorial Director, Platts believes, the essential commodity is likely to see even lower levels.

In an interview to CNBC-TV18, Hari says brent crude is likely to see a downward slope even in 2015, but unlike 2014, the descent won’t be as dramatic.

Also read: Brent crude price rise over $ 62 as Asian mkts open strong

“It is going to be extremely difficult to argue a case for a similar fall in crude prices in 2015, but we need to see the backdrop as we head into the new year. There is no major hope of a recovery in Europe. US is recovering but that is an oil-less recovery and emerging markets like China and India will see marginal growth,” adds Hari.

Hari believes a bottoming of prices will be seen in Q2 as it is seasonally a weak quarters owing to maintenance shutdowns.

Transcript to follow soon.

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