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Crude oil prices are going to remain flat for the coming two years, according to IHS Makrit.
Speaking at the India Energy Forum by CERAWeek, Vice-President, Oil Markets, Ravi Narayanaswamy at IHS Markit, said: "The price of crude oil in 2019 is going to be close to 2018 levels."
"We do not expect crude oil to hit 100 dollar per barrel," he added.
But Narayanaswamy expects recovery in prices from 2020 onwards. He said: "At current dollar valuations, we expect crude oil prices to hit $80 a barrel by 2020-2021."
He also said that the demand for fuel in 2030 will be lower by one million barrels per day from the earlier projections due to the growth of electric vehicle sales.
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