Oil Prices To Trade Around $40 In First Quarter 2015 As Crude Oil Glut Continues To Grow: Goldman Sachs

Oil prices could trade around $40 a barrel in the first half of the year as the glut of global crude supplies continues to grow, Goldman Sachs analysts forecast this week. Prices that low would force U.S. shale producers to scale back their output, which over time will help balance the mismatch between supply and worldwide demand.