Iran-US peace deal raises hopes of supply chain easing, slow recovery concerns persist
Madan Sabnavis, chief economist at Bank of Baroda agreed that it may take at least six months for West Asia to ramp up energy output
Madan Sabnavis, chief economist at Bank of Baroda agreed that it may take at least six months for West Asia to ramp up energy output. "Hence, while prices may not go up further, they would continue to be rangebound in the area of $80-90, rather than $90-100 barrel.” The International Energy Agency, in its oil market report for May, said demand could recover later this year if flows through the Strait gradually resume from the September quarter, though supply recovery is expected to lag.
The BriefWire