Oil price will stay lower for longer

With the price of Brent crude slipping to a six-month low, it won't be long before triple-digit prices are a distant memory.

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There's not a lot of upside in sight for the oil price

When the oil price bottomed at around $45 a barrel in January, some analysts expected the price to rebound to more than $100 before long. But the way things are going, "oil in triple digits will be a distant memory", says Stephen Jones of Kames Capital. The price of Brent crude has slipped to a six-month low below $50 a barrel, and is down by 25% this year.

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Andrew Van Sickle
Editor, MoneyWeek

Andrew is the editor of MoneyWeek magazine. He grew up in Vienna and studied at the University of St Andrews, where he gained a first-class MA in geography & international relations.

After graduating he began to contribute to the foreign page of The Week and soon afterwards joined MoneyWeek at its inception in October 2000. He helped Merryn Somerset Webb establish it as Britain’s best-selling financial magazine, contributing to every section of the publication and specialising in macroeconomics and stockmarkets, before going part-time.

His freelance projects have included a 2009 relaunch of The Pharma Letter, where he covered corporate news and political developments in the German pharmaceuticals market for two years, and a multiyear stint as deputy editor of the Barclays account at Redwood, a marketing agency.

Andrew has been editing MoneyWeek since 2018, and continues to specialise in investment and news in German-speaking countries owing to his fluent command of the language.