Oil Market December 23, 2014 12:00 am Anyone who has watched the news over the past couple of weeks is likely to have seen stories about the oil price. At a 5-and-a-half year low the price in the second week of December was at $64 per barrel; more than a 40% fall from a year earlier. A number of factors have influenced this. Whilst many reports have focused on the increased supply from shale, the slowing global economy (in particular in China) has seen demand fall. The supply and demand imbalance has been further compounded after oil cartel, Opec, announced it would not slow down production even if the price falls to $20 per barrel. Although good news for those filling up at the pumps there are concerns over the impact on North Sea Oil companies and the oilseed market.
