The worst is not over yet as the price of crude oil hit its lowest level in 6½ years. The U.S. crude contract fell as low as $41.35 a barrel, the weakest level since early 2009, when the global economy was in the throes of a massive financial crisis and recession. Low oil prices has already been causing pain throughout the industry. More energy sector layoffs expected.
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Same as 1998/1999 Oil went down to 9 USD/bbl.
Crude oil is headed to $10 to $20 dollars a barrel. See Bloomberg business article.
Crude oil is headed to $10 to $20 dollars a barrel. See Bloomberg business article.