Description: Top investment banker, Goldman Sachs, broached the possibility that the value of oil can drop to as low as $20 a barrel. If price of oil does reach that low, it will be the lowest it has been in the last 13 years.

Source: The Globe and Mail

Date: September 11, 2015

Video and Text Link: http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/oil-at-20-possible-for-goldman-as-it-cuts-forecasts-on-global-glut/article26326756/

Questions for Discussion:

1. What are the reasons behind Goldman’s prediction?
2. Why is the Organization of Petroleum Exporting Countries not scaling down its production of oil?
3. How will you predict the oil market to advance over the next one year and why?