London: Standard Chartered Bank has warned the oil price could plunge to $10 a barrel.
The bank is the latest institution to throw its hat in the ring and caution that it believes oil prices are set to drop even further.
Others who have warned about oil prices include Goldman Sachs, RBS, Morgan Stanley and International Monetary Fund chief Christine Lagarde.
Iranian chairman of Facts Global Energy Fereidun Fesharaki recently said oil prices could further fall to $25 a barrel by March as Iran is expected to begin increasing its oil production soon, following the lifting of international sanctions.
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