There are risks that oil price might go down, including if the Iran nuclear deal works out and sanctions are lifted, it will boost oil exports to beef up cash reserves, says Joerg Doerler, A.T. Kearney principal, oil and gas practice.
The global oil market’s been significantly affected by the Saudi-led bombing campaign in Yemen. The bombing sparked panic among oil traders and the price of crude saw a sharp rise.
However, the conflict coincided with the positive talks on Iran’s nuclear program, which helped bring prices back down. They briefly rose again amid doubts about whether the agreements with Iran will be implemented.