Adam Sieminski, the head of the Energy Information Administration of the U.S. Department of Energy, believes that oil prices may drop to $50 per barrel. In his words, extraction of shale oil in the U.S. would stop if the oil prices drop to $60 per barrel. Most analysts, in his words, predict that the price for WTI oil will drop to $62 in 2015, RIA Novosti reports.
As of 5.20pm on November 18, the price for December future of WTI oil dropped by 0.9% to $74.96 per barrel. The cost of January futures of Brent Crude Oil dropped by 0.9% to $78.57 per barrel.
Adam Sieminski, the head of the Energy Information Administration of the U.S. Department of Energy, believes that oil prices may drop to $50 per barrel. In his words, extraction of shale oil in the U.S. would stop if the oil prices drop to $60 per barrel. Most analysts, in his words, predict that the price for WTI oil will drop to $62 in 2015, RIA Novosti reports.As of 5.20pm on November 18, the price for December future of WTI oil dropped by 0.9% to $74.96 per barrel. The cost of January futures of Brent Crude Oil dropped by 0.9% to $78.57 per bar
