How low can oil go? Much further, some say
The US Energy Information Administration and bank analysts have cut their 2016 forecasts.
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Gold is holding up but oil is sliding further as the commodity rout continues.
Crude futures have dropped to about $US30 a barrel in New York and are at a 12-year low.
Lack of demand from China and a worldwide glut in production are key factors.
In overnight trading, US crude settled at $US30.85
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Nevil Gibson
Wed, 13 Jan 2016
Wed, 13 Jan 2016
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
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How low can oil go? Much further, some say
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