World Bank warns of oil price drop to $ 10 By: wab1
Date: Wednesday, 13-01-2016 11:02 pm
Major global banks, warned on Wednesday of a further decline in the prices of
Crude oil up to $ 10, while analysts drew the oil market remain fundamentally unbalanced, as long as there is an increase in supply and sluggish oil demand.
--The Daily Telegraph published an article based on the number of warnings from the big banks fall in crude oil prices has taped a barrel to $ 10, the article says, the economic affairs correspondent newspaper mehreen Khan, "the current oil prices that had fallen to less than $ 30 amid warnings that it could fall to about $ 10.
The writer says, "Standard Chartered Bank was most banks which reduce future oil price forecast to $ 10 to join to the banks of the likes of Goldman Sachs and UBS and Morgan Stanley.
The writer points out that "prices of Brent crude had fallen to the lowest level in 12 years, a 30.41 a barrel, while WTI in dealings to 29.93 dollars, a level last reached in December.
Analysts warned that the oil market will remain fundamentally unbalanced, as long as there is an increase in supply and sluggish oil demand. The article says that the last time oil prices have fallen to the level of $ 10 was at the height of the Asian financial crisis in 1998.