By John Donovan
Recognising the seismic significance of the continuing collapse in the price of oil, The Sunday Times devoted several articles to the subject last weekend.
It has done the same again this weekend, with coverage in the main newspaper and in the Business Section.
Extracts from above linked article by Danny Fortson
THE plunging oil price has unleashed chaos on the london market, with some listed oil explorers trading for less than their cash reserves and others eyeing takeovers at levels that were unthinkable just a few months ago. Since hitting nearly $115 a barrel this summer, the price of oil has plummeted 45%. Brent crude closed on Friday at $61.5. The fall is likely to lead to a flurry of collapses and long-coveted deals amid predictions that the swoon will continue into 2016 and could see the oil price dip to $50 or even lower.
Extract from an article by David Smith
With the oil price having fallen by more than 40% to $61 a barrel, and with analysts predicting petrol could drop to almost £1 a litre, there should be more of this to come. The last time oil prices fell this fast, culminating in a drop to just over $30 a barrel (from a high of $147) was in 2008…
Extracts from an article by Michael Sheridan
Tehran is facing painful choices as energy producers from Venezuela to Nigeria come to terms with a five-year low in prices, says Michael Sheridan. The falling oil price combined with sanctions have been bad news for Iran…