Oil prices below 40 $ a barrel …. And expectations of the stability of oil at 30 $ in the first season

Goldman Sachs Bank for Investment predicted pressure on oil prices to continue to a rate of about 30 $ in the first quarter of this year.

The Bank said in a report that oil prices have fluctuated in the past few weeks because of political tensions, weather and financial factors as well as weak economic fundamentals and the continued existence of the surplus in the market.

 
But the report predicts the steadiness of oil prices in 2009 at 65 $, with the return of balance to the market in the wake of global recession.

 
Oil prices fell more than two dollars on Monday to less than 39$.
The American light crude price decreased to $ 2.52 b to $ 38.31, also dropped the European Brent 1.70 to 39.13 $ a barrel.
The Oil fell despite reports that Saudi Arabia – the largest oil exporter in OPEC – plans to reduce its oil production to less than the quota in OPEC.