Oil prices may see $20/barrel: Goldman Sachs
The investment bank cut its forecast for West Texas Intermediate (WTI) oil prices to $45/barrel for 2016 from its earlier estimate of $57/barrel reported in May. According to the bank, Brent oil prices could also decline to $49.50/barrel in 2016, down from its previous projection of $62/barrel. The bank added that prices could potentially drop down to $20/barrel if no actions are taken to rebalance the market.
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