Brent could test $98 per barrel: Robert Parker of Credit Suisse

In an interview with ET Now, Robert Parker, Senior Advisor of Credit Suisse, shares his thoughts on oil prices.



ET Now: Crude is at a 14-month low. What do you make of it?

Robert Parker: Oil prices logically have come down in recent months because of the geopolitical risk. All the bad news is coming out of the Middle East has not disrupted oil production in the Middle East at a time when American oil production is increasing and shale production is greater than expected.

Hence, it is not surprising that oil prices have come down. Over the balance of this year, Brent prices will probably trade even lower - we could test $98 per barrel. That is good for markets and economies which are oil consumers, such as India, and this is one factor supporting the Indian market. The outlook is moderately weaker oil prices.