Despite the meltdown in the oil market, prices are more likely to rise than to fall further because of geopolitical instability, an industry consultant told CNBC on Thursday.
"Iraq, Iran, [and] Libya, history tells us that those don't get solved very quickly or very easily. I don't see downward pressure from them coming back on online. I probably see more upward pressure from disruptions going on in that area," Carl Larry, director of oil and gas business development at Frost & Sullivan, said on "Squawk Box".
Larry's comments were in contrast to what Exxon Mobil CEO Rex Tillerson told CNBC in a separate interview that aired Thursday.