Rudra Investment Best Commodity Tips Expert says Barclays Bank has said in its new estimate that crude oil can touch the figure of $ 80 a barrel in the short term. It means that there is little hope of immediate relief from petrol and diesel prices.
For the continued increase in the prices of petrol and diesel, the central government is blaming the ongoing turmoil at the international level. At present, no announcement has been made regarding relief from his side. In such a case, if you are waiting for softening in crude oil, then it is currently difficult to meet.
Barclays Bank has said in its new estimate that crude oil can touch the figure of $ 80 a barrel in the short term. It means that the prices of petrol and diesel are less likely to be relieved in the coming days.
Barclays has said in its foreclosure report that there were concerns about crude oil in 2017. Its supply was also expected to be better. But now everything has changed. Earlier, the bank had estimated crude oil to be $ 55 per barrel by 2020.
But in its new report, the bank has said that in 2020 Brent Crude could remain at $ 75 a barrel. On the other hand, many OPEC countries supplying the oil are not able to supply supplies. "
Oil strategist Harry Chillinguran associated with BNP Paribas told the Reuters that supply of crude oil may be reduced in 2019. The production is down in Venezuela. This is going to affect the supply.
They have speculated that Brent Crude could live at $ 79 a barrel in 2019. Because of this, it is difficult to get relief from the rising prices of petrol and diesel even further.
At the international level, if crude oil prices continue to rise, then the government will have to take any action. Otherwise, it is difficult to get relief from fuel prices quickly.
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