US investment bank expects oversupply to continue into next yearThe price of oil could more than halve again,to just $20 (£13) a barrel, experts at Goldman Sachs are predicting, and a shift which would spell broad savings for motorists but cast doubt on the viability of North Sea oilfields.
Homeowners,motorists and many industries would gain although a further price collapse could prompt thousands more job losses in the struggling North Sea sector and could eventually hit Treasury tax revenues.
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Source: theguardian.com