The crude oil prices on Friday fell to fresh April lows. Brend crude was trading around USD 42 per barrel and WTI crude around USD 40.88 per barrel. Miswin Mahesh, Energy Analyst, Barclays expects Brent Crude to hover above USD 40 a barrel and not go much below that. The prices would average around USD 45
a barrel in the third quarter of the year and recover in the fourth quarter (October-December), says Mahesh. According to him, although the demand for crude is slowing, the supply, too, is going to slow down and that will balance out the prices of crude in the fourth quarter. Last year in Q3, we were growing at 2-2.1 million barrels a day, while this year we are growing at 700,000 barrels, he adds.
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