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Oil price falls to 11-year low with global glut expected to deepen in 2016

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Screen Shot 2015-12-22 at 09.00.18Larry ElliottTuesday 22 December 2015 

The investment bank Goldman Sachs has said that it could take a drop to as little as $20 a barrel for supply to adjust to demand.

However, Shell said on Monday that it is pressing ahead with its $60bn takeover of BG Group despite doubts among some shareholders about the deal’s viability given the falling oil price.

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RELATED: Oil producers prepare for prices to halve to $20 a barrel

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