NEGOTIATOR’S TAKE: Lubricants, plastics and transportation are all candidates for price reduction.
Toward prices not seen since the last financial crisis
As U.S. oil fell to a six-year low below $41 a barrel on Wednesday, an increasing number of analysts and traders are saying crude could drop into the $30s—and soon.
The move to a price last seen at the height of the financial crisis, in February 2009, could come amid a seasonal falloff in demand, coupled with concerns about the Chinese economy and the continuing global glut of crude. Cheaper oil would bring further joy to consumers and businesses around the globe, but more pain for everyone from Russian budget officials to U.S. shale-oil drillers….read the rest of this ProPurchaser sourced article, HERE.
Source: The Wall Street Journal, August 2015
Article Author: GEORGI KANTCHEV (view his biography, HERE)