CREDIT SUISSE: Oil is going stay low for 5 years

Lianna Brinded
BusinessInsider.com
Dec. 22, 2015

Oil prices have plunged from triple digits over 18 months ago to less than $40 a barrel, and companies, markets and the global economy have been ravaged by cheap energy.

Brent crude oil prices hit their lowest level in more than 11 years this week and are currently trading around $36.14 per barrel as of 4.22 p.m. (GMT) today — far cry from over $100 per barrel in the summer of 2014.

And according to Credit Suisse’s 2016 Global Outlook report, the pain of low oil prices will continue until 2020 at least.

Here’s the fateful chart which shows that while oil prices are set to double from their current level to around $60 per barrel by 2020, this is still dramatically less than what it was last year:

The Rest…HERE

This entry was posted on Tuesday, December 22nd, 2015 at 1:23 pm and is filed under Economics, Oil. You can follow any responses to this entry through the RSS 2.0 feed.