Goldman Sachs says oil could fall to $20 a barrel | Business | The Guardian

Goldman Sachs says oil could fall to $20 a barrel | Business | The Guardian:



"The price of oil could more than halve again, to just $20 (£13) a barrel, experts at Goldman Sachs are predicting, a shift which would spell big savings for motorists but cast doubt on the viability of North Sea oilfields.



Homeowners, motorists and many industries would gain although a further price collapse could prompt thousands more job losses in the struggling North Sea sector and could eventually hit Treasury tax revenues.



The value of the benchmark West Texas Intermediate crude has already fallen from $107 last June to less than $44 but analysts at Goldman Sachs forecast another huge plunge in WTI. It last traded at $20 a barrel in 2002."



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