Goldman Sachs: Oil prices may hit $30/barrel
Since November 27, when OPEC decided not to cut its production target of 30 million barrels per day, global crude oil prices have posted significant decreases. According to ChemOrbis Price Wizard, crude oil prices on the NYMEX settled at around $45/barrel on January 26, hitting their lowest level since March 2009 based on a weekly average while Brent crude on the ICE Futures
Europe exchange settled at around $48/barrel, the lowest average settlement since March 2009.
On January 26, NYMEX March crude was down 44 cents to settle at $45.15/barrel while ICE March Brent crude was up 63 cents to settle at $48.16/barrel.
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