Telegraph.co.uk | Oil price retreats from $50 - and will stay lower 'for months', says Goldman Sachs Telegraph.co.uk The oil market has reversed its fragile gains over the past two weeks to fall back below the $50 a barrel mark, as Goldman Sachs warned that the price is unlikely to return to its 2016 highs “for months”. The oil price reached $52.60 a barrel last week ... Oil industry's $1tn spending cut raises fears over future supply Oil Industry to Cut $1 Trillion in Spending After Price Fall Oil Explorers Slash Investments by $1 Trillion Since Oil Price Drop |