Arab Today, arab today fitch oil gas prices may decrease if iran sanctions eased
Last Updated : GMT 04:31:55
Arab Today, arab today
Arab Today, arab today

Fitch: Oil, gas prices may decrease If Iran sanctions eased

Arab Today, arab today

Arab Today, arab today Fitch: Oil, gas prices may decrease If Iran sanctions eased

Tehran - FNA

The International Credit Rating Agency (Fitch) said that oil and gas companies may see prices come under pressure in 2014 if the US-imposed economic sanctions on Iran are eased as a result of improving relations between the two countries. This could see Iran increase the supply of oil on world markets by around 800,000 barrels per day leading to a downward impact on prices. Our current oil and gas corporate price deck shows a decline in the Brent oil price of 6.8% in 2014 and a decrease in the aggregate capital expenditure (capex) of the seven western European upstream and integrated companies with the rate of 5.9% in the same period, the Islamic republic news agency reported. This is roughly equal to a $7.2bln reduction in capex for the European oil and gas sector in 2014.

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