Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - Canadian dollar sinks below 88 cents as Saudis cut oil to $77

chemgear · 12-08-2014, 09:27 AM

http://www.cbc.ca/news/business/oil-...rrel-1.2864101

Brent crude oil fell more than $2 a barrel on Monday to a new five-year low on predictions that oversupply would keep building until next year after OPEC decided not to cut output.

In a report dated Dec. 5, U.S. investment bank Morgan Stanley said oil prices could fall as low as $43 a barrel next year. The bank cut its average 2015 Brent base-case outlook by $28 to $70 per barrel, and by $14 to $88 a barrel for 2016.

12-08-2014, 09:27 AM	#119
chemgear Franchise Player Join Date: Feb 2010 Exp:	http://www.cbc.ca/news/business/oil-...rrel-1.2864101 Brent crude oil fell more than $2 a barrel on Monday to a new five-year low on predictions that oversupply would keep building until next year after OPEC decided not to cut output. In a report dated Dec. 5, U.S. investment bank Morgan Stanley said oil prices could fall as low as $43 a barrel next year. The bank cut its average 2015 Brent base-case outlook by $28 to $70 per barrel, and by $14 to $88 a barrel for 2016.