Brent crude oil may hit $80 by Dec 2019-end: Kang Wu of S&P Global Platts

Global demand is weaker in 2019 as compared to last year but the supply is tighter with substantial declines of oil supplies from Iran as well as Venezuela, Wu said

Trade war fears between US and China and the slowing global growth triggered a sharp swing in oil prices over the past few weeks. DR. KANG WU, head of analytics for Asia at S&P Global Platts talks to Puneet Wadhwa on the side-lines of their annual Commodity Market Insights Forum 2019 on the road ahead for oil prices and the factors that are likely to impact the movement. Edited excerpts:

What’s your outlook for Brent crude oil prices?

With the incoming International Maritime Organization 2020 (IMO 2020), we see a higher demand for sweet crudes. As a result, dated Brent