oil-web1-articleLargeOil prices took another sharp turn downward on Monday to levels not seen since the depths of the 2009 recession. Several international banks predicted even lower prices later this year because of an oversupplied global crude market. The latest daily downward spiral of more than 5 percent has brought several crude oil benchmarks down by more than 55 percent since June in one of the fastest drops ever for the volatile commodity. The drop came even as Venezuela and Iran coordinated their efforts to persuade OPEC to cut production; Canadian Natural Resources, a major global producer, announced deep investment cuts; and American companies dropped their rig drilling count at quickening speed. The day’s plunge began after Goldman Sachs released a bearish oil report Sunday night predicting that the American price benchmark, which dropped to about $46 a barrel on Monday, would fall to $41 in three months and $39 in six months — before recovering to $65 by the end of the year. More