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BNP Paribas Oil & Gas Equity Analyst Anne Cameron on why concerns over the Middle East are causing the rise in oil prices.
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Thank you -- so is it time for Washington drivers to get a -- then come to grips.
What with what could be a lot higher prices and camera not whether these prices are the new norm.
She's an oil and gas equity analyst over -- B and -- Paribas.
What do you they -- High is high it's again.
Outlaw -- and where we are -- now is too high that's for sure.
I mean the oil market at the moment is not being driven by fundamentals it's being driven by the fear in Iran the fear could really dominating it is no absolutely I mean it.
The marginal barrels -- could be produced are around seventy dollar break -- OPEC might support the oil price -- around eighty or ninety dollars.
But really what's going on is just -- of the Middle East.
But -- -- a lot.
This surge career -- acting -- -- and then maybe it has something to do.
We think improving global economy uptick in demand but -- saying that figures -- -- -- very bearish so I think one of the surprising things going forward will be how much crude oil production comes out of this country.
We see several million barrels a day being produced by US oil and gas companies domestically and really what's -- -- angle.
What's surprising to investors at the moment is that -- and gas prices at the pump.
That are based on international prices that are based on Brent whereas actually our US US gas.
US oil producer salad WTI they sell at fifteen dollars less a barrel.
That and -- you think it stabilizes to what levels.
Even chaos in 1993 dollars the number and Harry so we would see about a 10% drop from -- -- and soon.
I think it's gonna take another two years two years -- I mean the the problem in Iran is it's got to get worse before it gets better -- mean that it's the beer at a price.
Section in thank you good stuff but bad stuff the good job that's when it's.
