Pradeep Unni, senior relationship manager, Richcomm Global Services: “Japan’s recession and the deflationary fears in Europe would only increase the pressure on the oil prices. This being the demand scene, there hasn’t been any significant supply constraints too. In the near term oil has a potential to trade around $65-70 [Dh239-257] per barrel, but it will depend on the next Opec meeting.”
Osama Al Ashri, member of British organisation, Society of Technical Analysts: “Brent crude oil may test $85.5 resistance level within two months and may test a new low of $67.90 in the first quarter of 2015.”
Ole S Hansen, head of commodity strategy at Saxo Bank: “I see an average price around $75 during the first quarter before rising and settling into a $80-90 range during the second half of 2015.”
Gnanashekar Thiagarajan, director at Commtrendz Research: “Over the medium term, crude is expected to be range bound with a bearish bias. We expect a low of $68 per barrel as increasing supplies would weigh on prices.”
