Oil prices will average around mid-50s one year from now: Sammy Six

Interview with senior oil analyst at S&P Global Platts

With crude oil prices slipping nearly 20 per cent from their peak levels, Singapore–based Sammy Six, senior analyst at S&P Global Platts tells Puneet Wadhwa the market dynamics are luring traders and market participants with an incentive to store now and sell later. Edited excerpts:
 
What explains the crude oil price fall?
 
Prices declined since the Organization of the Petroleum Exporting Countries (Opec) and non-Opec countries decided to roll over the output cut agreement in May. The market had already priced in an extension due to supporting chatter from Saudi Arabia and Russia in the weeks leading up