Could oil hit $30?

Could oil hit $30?

Could oil hit $30? The price of oil could fall as low as $30 following China’s currency devaluation. That’s according to analyst John Kilduff of Again Capital who told CNBC that the low could be reached by October with a rebound of US supplies to $50 next year. Kilduff said that even $20 is possible but unlikely. He sees US supply slowing to 500,000 barrels per day next year with OPEC also cutting production with the resulting rebound in prices.