Buxton warns oil could skid as low as $40

Old Mutual's star manager Richard Buxton warned a month ago that the oil price could slump to $50 a barrel

Buxton warns oil could skid as low as $40

Old Mutual Global Investors' star manager Richard Buxton has warned the price of oil could yet collapse to $40 a barrel, after predicting in December it could fall to $50.

The gloomier verdict follows Saudi Arabia's decision last year to put the squeeze on rival suppliers by hiking its production.

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