Crude prices in the US slid 1-dollars-40-cents on the day to around 64-dollars per barrel.

 

At the same time, Morgan Stanley is predicting oil prices could fall to as low as 43-dollars a barrel next year.

 

The prediction is largely based on OPEC's decision last month not to cut its output, despite the continuing decline in oil prices, which have been tracking downward since June.

 

The latest dip in oil futures¹ coincides with the release of China's foreign trade data for last month, which has seen export growth slow sharply, while imports have also contracted.

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