London, (Quantum Commodity Intelligence) – Indian state refiner Hindustan Petroleum Corp said Friday it expects global crude oil prices to ease towards $60 per if sanctions are lifted against Iran, but otherwise does not see prices moving much above $70/b. 'We believe that the crude prices should be maintained at less than $70 in the long term. If the Iran deal comes favourably, it should move more towards $60 side and even if it does not, we do not see it going much beyond $70/b... some momentary spikes may be there' said company chairman M.K. Surana, speaking on an analyst call. India was a major buyer of Iranian crude but halted exports in 2019 after its temporary waiver expired. Talks in Vienna this week are reported to be moving towards a new deal, potentially lifting sanctions on oil exports. Meanwhile, the Q2 2021 coronavirus wave in India has had major ramifications for demand, said HPCL.