A taxis fills up at a petrol station in New York. Oil prices have been falling as global demand has been slumping because of the coronavirus pandemic. Photo: ReutersA taxis fills up at a petrol station in New York. Oil prices have been falling as global demand has been slumping because of the coronavirus pandemic. Photo: Reuters
A taxis fills up at a petrol station in New York. Oil prices have been falling as global demand has been slumping because of the coronavirus pandemic. Photo: Reuters

With oil prices sinking 60 per cent this year, one forecast sees Brent going as low as US$5 a barrel

  • Citigroup said its base case is that Brent would average US$17 a barrel or lower in the second quarter, with a bear case of a US$5 average
  • Oil has been battered by the fight against Covid-19, which is expected to reverse global demand growth, and a battle for market share between Saudi and Russia

Topic |   Energy
A taxis fills up at a petrol station in New York. Oil prices have been falling as global demand has been slumping because of the coronavirus pandemic. Photo: ReutersA taxis fills up at a petrol station in New York. Oil prices have been falling as global demand has been slumping because of the coronavirus pandemic. Photo: Reuters
A taxis fills up at a petrol station in New York. Oil prices have been falling as global demand has been slumping because of the coronavirus pandemic. Photo: Reuters
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