Crude Outlook: What’s in Store for Oil in 2016? If oil’s slump to an 11-year low stung traders, it’s just a taste of the hardship felt by the industry. Brent’s plunge to $35.98 a barrel on Tuesday, its weakest intraday level since 2004, was probably painful enough for any remaining oil bulls. But that move was just playing catch-up with the annual average price, already at the lowest in 11 years — a measure more important than intraday fluctuations to those that pump crude from the ground. “Short-term swings are not necessarily something that matters a lot at the corporate level or at the country level,” said Antoine Halff, […]