27.08.2015 - Why the oil price could be depressed for a generation
The oil price may have fallen to its lowest level since the financial crisis, but Chris Taylor believes it will get cheaper. The oil price has been one of the major casualties of the downturn in global markets over the last few weeks, tumbling to levels not seen since the depths of the financial crisis. A barrel of Brent crude oil now costs $43.67, and fell as low as $42.23 during the Black Monday sell-off. It is down 62% since its most recent peak, of nearly $115, set in June last year. Chris Taylor, head of research at fund group Neptune, believes oil has further to fall, and thinks its price could remain in the doldrums for a generation. He argues that investors are still failing to appreciate the implications of fracking, and the shale oil it produces...............................................Full Article: Source
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