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Oil price crashes to $33 – and could go as low as $18

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7 JULY 2016

So how low will oil go? Paul Stevens, professor emeritus at the University of Dundee and a Middle East specialist, predicted in a BBC interview that shale production would not slow down meaningfully until prices fall below $25 a barrel – and perhaps even as low as $20. This echoes the forecasts of analysts including Goldman Sachs late last year.

Capital founding partner John Kilduff, meanwhile, told CNBC that prices could even break below $18 a barrel if Iranian sanctions are lifted as expected in the coming months and the country ramps up exports. A price war is getting underway already in Europe as Saudi Arabia discounts to shore up market share.

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