U.S. Oil Could Return to 2008 Low of $32 in Citigroup View
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Oil could fall to lows last seen during the global financial crisis amid a persistent supply surplus, Citigroup Inc. said.
“Balances point to further oversupply throughout 2015 begging the question how low can oil go,” Citigroup analysts led by Seth Kleinman said in an e-mailed report Wednesday. The U.S. crude price of $32.40 a barrel reached in 2008 “is a conceivable reality.”