Oil prices could go well under $80 a barrel if a deal is struck to rein in Iran’s nuclear ambitions, Eurasia Group President Ian Bremmer predicted Monday.
“This is the do or die year for Iran,” he said on CNBC’s “Squawk Box.”
The price of oil, as he pointed out, is already going down as an extra 500,000 barrels a day of Libyan supply are coming back online after the restart of a key oilfield there.
Last week, oil prices dropped 6.3 percent—its worst week since June 2012. Crude is slightly higher in early Monday trading.
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Mingze Wu
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