"$60.00/bbl for July WTI? it is a question of 'when' and not 'if' it trades at this price."


One IPE broker said Monday referring to likelihood of oil prices hitting $60/bbl.

"At the moment, OPEC is not capable of cutting down prices much, despite all its efforts to supply oil at the highest capacity."


Iran's OPEC governor Hossein Kazempour Ardebili said Saturday referring to the cartel's inability of controlling oil prices.