Analysts: The oil price could now slide to USD 30

The Chinese currency devaluations could send the oil price down to USD 30 per barrel. A disastrous development for Norway's economy, says oil analyst.

Photo: Hjalmar Otto Fjøsne/Aker Solutions

It is not unthinkable that the oil price could drop all the way down to just USD 30 per barrel in 2016, note several oil analysts citing currency devaluations in China as well as the country's economic growth.

"An oil price of USD 30 is possible in 2016. There is a significant risk of a lower oil price than our estimated USD 65 per barrel next," Torbjørn Knus of DNB Markets tells Norwegian newspaper Dagens Næringsliv:

Read the whole article

Get 14 days free access.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

DB Schenker defends carriers in red-hot container market

One of the major global customers, German DB Schenker, defends the quality offered by container lines in the exceedingly feverish market, which other freight forwards have criticized in strong terms. Even the high rates are in order, says the COO of Air & Ocean in an interview with ShippingWatch.

Azane Fuel Solutions was created during the pandemic using Teams

Azane Fuel Solutions was established in the middle of the pandemic. Digital meetings and planning over the phone proved no obstacles for top execs at Amon Maritime and Econnect Energy during the start-up. Now they have to set up bunkering terminals for ammonia in two and a half years.

Further reading

Related articles

Trial banner

Latest news

See all jobs