Oil prices may go up, but will be below $70 a barrel in FY19: HPCL chairman

An Opec meeting scheduled to take place this week is expected to come up with a supply cut to arrest the drop in prices

With speculations that crude oil prices may go up again after Qatar deciding to pull out of the oil cartel Opec and an expected supply cut this week, Hindustan Petroleum Corporation (HPCL) Chairman and Managing Director M K Surana on Monday said that while the prices may go up, they will still be below $70 a barrel for the rest of the current financial year.
 

This comes after the Brent crude prices increased by 2.76 per cent to $62.22 a barrel at one point on Monday, arresting the recent declining trend. "The exit of Qatar is depending on the individual