Société Générale: Oil price could drop to USD 50

The market will not see consequences of the OPEC deal to reduce oil production until February at the earliest. In the meantime, the oil price could fall back down to about USD 50, says bank Société Générale according to Norwegian daily Dagens Næringsliv.

Photo: /ritzaui/AP/Hasan Jamal

The coming months will reveal how much the OPEC countries and Russia will actually reduce their oil output.

In the meantime, the oil price could drop below USD 50 per barrel, writes Norwegian daily Dagens Næringsliv, citing a comment Wednesday from major bank Société Générale.

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