| Oil markets across the world are expected to remain oversupplied through 2015, following the nuclear deal with Iran. With Iran returning to the world’s oil market in some time, Brent crude is expected to settle at $55-58 a barrel. Such a development would continue to support India’s macroeconomic fundamentals, as risks of imported inflation would abate substantially.
Volatile oil prices would have prevented any further rate cuts by the central bank but with Iran signing the deal, the risk abates substantially. Oil analysts believe crude oil prices will come down further in forward markets by $5-10 a barrel, once Iran’s oil hits world markets. Iran is ready to ship 30 million barrels...............................................Full Article: Source
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