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Abu Dhabi, UAEThursday 20 September 2018

Business Extra Podcast: What's next for the oil price rally?

Oil prices are at four-year highs, with Brent touching $75 per barrel this week. Analyst Iman Nasseri gives his view of how markets might play out.

<p>Sergei Karpukhin / Reuters file</p>
<p>Sergei Karpukhin / Reuters file</p>

A pact forged by Opec and non-Opec producers such as Russia, the largest producer outside the group, has lowered global inventories of crude, reversing a three-year price slump that saw prices fall as low as $29 a barrel in 2016.

Recent US-led air strikes on Syria have also contributed to the price rally but analysts are suggesting that oil could climb higher but President Donald Trump’s decision on the Iran nuclear deal on May 12 could be a deciding factor.

To decipher which factors will matter most in the coming weeks, The National's energy correspondent Jennifer Gnana spoke to Iman Nasseri, managing director, Middle East at London-based Facts Global Energy about how much further oil prices could go, whether the rally is sustainable, how much longer Opec and non-Opec can hold together their pact and also on what happens to the oil markets if the Iran deal falls apart.

Business Extra is The National's weekly look at the business, financial and technology sectors of the Middle East and beyond. Subscribe on Apple Podcasts.

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