Oil Prices Expected to Fall Below $45

…In an interview with Forbes magazine, Michael C. Lynch, president of Strategic Energy & Economic Research in Amherst, Massachusetts, said prices would regress.

Lynch, known for his optimistic analysis in energy issues, asserted that new supplies would amply meet growing demand.

He did not expect price hikes even if an economic embargo was imposed on Iran, which produces 3.75 million barrel per day (bpd).

Lynch said oil disruptions, nuclear threats, wars, terrorism, tornados and pipeline decay affected oil prices with a $20-per barrel risk premium.

Zaman Daily