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Crude Oil Plummeted again

  • Author:Ema Cai
  • Source:Crude Oil Price
  • Release on:2016-01-07

Crude Oil Plummeted again


Tencent Financial News Beijing January 7 evening news: international crude oil price plummeted again, US WTI crude oil price fell 4.80 percent, $ 32.34 a barrel; Brent crude oil fell 5.43 percent, $ 32.37 a barrel.

A stronger dollar, OPEC crude oil production record, Iran’s return to the international oil market and China's economic slowdown are important factors in the decline of crude oil.


Capital's co-founder John Kilduff declared again that US oil price in 2016 will drop to $ 18 a barrel, the lowest.


Kilduff, when participating in the BBC program, said that before the final rally in oil price, the global oil industry will go through a painful process, and this process cannot be avoided. Saudi Arabia, OPEC and Russia will be affected. Facing the downturn of international crude oil market, these oil-producing countries have to yield.


The energy sector's stock of US stocks has dropped over 20% by 2015.


But Kilduff also said that oil price will likely rise to $ 48 a barrel in 2016.


McGraw Hill, head of the global financial sector, John - Kingston (Kingston) said that although there is a possibility that crude oil price likely to rebound at the end of 2016 to $ 60 a barrel, crude oil price could fall more than 20 US dollars a barrel before it rebound.


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