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Standard Chartered: Oil price will crash to USD 10 per barrel

Not until the oil price lands at a price of USD 10 per barrel, will the market understand that this has gone too far, says British Standard Chartered.

Photo: Hjalmar Otto Fjøsne/Aker Solutions

The UK bank Standard Chartered believes that the oil price could reach USD 10, reports Norwegian business daily Dagens Næringsliv.

The bank has looked into how the oil price will develop this year, and not until the oil price lands at a price of USD 10 per barrel will the market understand that this has gone too far, writes the newspaper.

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