If Opec members refuse to cut output, oil may fall to $42: Natixis analyst

In a Q&A, Abhishek Deshpande also explains why India and China won't jump in to build their reserves

Last year's historic pact between the Organisation of the Petroleum Exporting Countries (Opec) and non-Opec members to cut crude oil production has faced several challenges, including non-compliance by some members, while shale oil producers sold futures at higher prices in the forward market. Opec is trying hard to ensure compliance from all nations. However, Abhishek Deshpande, chief energy analyst, London-based Natixis Global Commodities Markets Research, said in an interview with Rajesh Bhayani that oil prices might take much longer to rise. Edited excerpts:

What is pushing oil prices down? is it defiance on the part of some Opec members to heed the