Crude oil in 2016: $60 a barrel might be the ceiling
A barrel of oil was priced at more than $100 in June 2014
Some of the world’s largest energy companies and investment banks are becoming more pessimistic about the ability of crude oil pricing to reach even $60 a barrel next year, reporting steep losses as they take hits on projects that no longer make financial sense, according to The Wall Street Journal.
A barrel of oil was priced at more than $100 in June 2014, but a combination of ample supply and weaker demand drove the international benchmark price to about $38 by early December 2015, the lowest sustained levels since the financial crisis.