How low can oil go? Strategists warn Brent could tumble further

Alice Rigby
clock • 4 min read

The sharp slides in oil prices seen since the summer could continue unabated until the commodity's chief trade body OPEC (Organization of the Petroleum Exporting Countries) is finally forced to take action, investors have said.

The last quarter has seen oil prices tumble, with Brent crude falling from $113.6 per barrel at its peak in July, to less than $80 last week. The dive was exacerbated by an acceleration in production of alternative energy, including shale in the US, which forced the International Energy Agency to cut oil demand forecasts earlier this month. Global growth worries and the slowdown in China have also had an impact on prices. The fall of 30% in the price of crude has left it at its lowest level since 2010, but investors said there is still plenty more risk to the downside. John Ventre,...

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