Oil have not been cheaper since 2009 with its record breaking Brent spot on 40,83 dollars per barrel – down 5,3%. Something that will create changes in the world huge companies need to cut staff and problems paying debt is eminent. Investments in the oil sector is down with 30% compared to 2014.
Experts don’t believe on a long 40 dollars per barrel, but I think it reaches the record from 2008 – 36.61 dollars.
The ironical is the reason to this crisis – TO MUCH OIL!
Up date 08.12.2015:
Brent oil is down to 39.90 USD
US oil is down to 36.90 USD !!!