IHS Markit on Monday said crude oil prices could average slightly above $90 per barrel in the fourth quarter.

Crude oil futures rose today as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked supply worries, though concerns over the long-term demand outlook dragged on prices.

In an interview to CNBC-TV18's Manisha Gupta, Kurt Barrow, vice president - oil markets, said, "There is a battle between supply declines and demand declines. But concerns are far more on the supply side with Iranian barrels coming out of the market and US supply constrained due to pipeline logistics etc. So, oil markets could get quite tight."

Talking about electric vehicles, driver less cars and other innovations, Barrow said, "A lot of real drivers in innovation have been investments by new entrants. It's hard to underestimate the potential impact of mobility transport."

First Published:Oct 15, 2018 2:28 PM IST