Slowdown in Chinese economy and rising US output plunges price to unusual low with huge knock-on effects for UK’s North Sea oil industryThe price of North Sea oil has fallen to just above $32 per barrel,72% lower than the peak of $115 reached in the summer of 2014.
The value of Brent crude was hit for the fourth day in a row, this time by figures from the US showing oil production had risen even higher despite the immense supply glut. Related: Oil prices could continue to slide with Saudi sights set on shale Continue reading...
Source: theguardian.com