02.11.2016 - Oil prices are heading to $40 if OPEC deal fails, Goldman Sachs warns
Crude oil prices could crash more than 10% if the Organization of the Petroleum Exporting Countries fails at implementing a plan to curb output when it meets later in November, Goldman Sachs warns. In a note dated Oct. 31, the Wall Street analysts said a coordinated deal to limit oil production is looking increasingly unlikely, “with weakening oil fundamentals warranting oil prices in the low $40s/bbl in our view if OPEC is unable to deliver a convincing agreement.” The bank didn’t specify whether it was looking at prices for Brent LCOF7, -0.66% or West Texas Intermediate..........................................Full Article: Source
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