| Many analysts predicted that crude oil prices could decline further from $30 per barrel — prices which has not been seen since for over a decade. Canadian oil sand producers are feeling the pain from the continues decline of crude oil prices, with prices there even lower than current crude prices.
Standard Chartered Bank has the most bearish oil outlook among the major banks. The British Bank forecasts the possibility that crude oil prices could crash to as low as $10—which is now happening in Canada. The last time crude oil prices reached as low as $10 a barrel was during the height of the financial crisis in Asia in 1998...............................................Full Article: Source
|