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Oil Prices Could Go As Low As $40 A Barrel: Goldman Sachs

While oil prices have had V-shaped recoveries in the past, caused by a lack of physical storage, tight freight markets, and strong balance sheets, a January 11 Goldman Sachs report argues that even with capex already falling sharply, changing industry conditions mean oil prices will have to stay depressed longer before there is enough of a reaction to push prices back up.

“We believe this bear market will likely be characterized by more of a . . .

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