Can the oil price – now below $28 a barrel – fall to less than $10?

(Also read "Oil price falls to 11-year low, producers keep pumping in fight for market share".)

The oil price has fallen below $28 a barrel.

What is the geo-political story here?

Can it really reach ten dollars a barrel?

Mike Wills interviewed Charles Whall, Co-Portfolio Manager of Global Energy at Investec Asset Management.

Scroll down for quotes from the audio below.

It can still go lower, because the Iranians are putting more oil on the market.

Charles Whall, Co-Portfolio Manager of Global Energy at Investec Asset Management

Nobody is making money at $30.

Charles Whall, Co-Portfolio Manager of Global Energy at Investec Asset Management

Opec is trying to take capital spending away.

Charles Whall, Co-Portfolio Manager of Global Energy at Investec Asset Management

The US remains committed to shale gas. However, about 20 companies have folded and more will follow.

Charles Whall, Co-Portfolio Manager of Global Energy at Investec Asset Management

The rig count continues to fall.

Charles Whall, Co-Portfolio Manager of Global Energy at Investec Asset Management

There is no problem with demand.

Charles Whall, Co-Portfolio Manager of Global Energy at Investec Asset Management

Production is falling faster than what the Iranians can pick up.

Charles Whall, Co-Portfolio Manager of Global Energy at Investec Asset Management

We’ll have oil prices at roughly twice this price by the end of the year.

Charles Whall, Co-Portfolio Manager of Global Energy at Investec Asset Management

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This article first appeared on 702 : Can the oil price – now below $28 a barrel – fall to less than $10?


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