Oil price reaches lowest levels since 2009
The sliding oil price took a big hit from China's currency unrest and reaches its lowest level in more than six years. New numbers from Standard & Poor's show that oil and gas companies are behind one fourth of all non-performing loans.
BY OLE ANDERSEN
The oil price continues to slide, to USD 45 and USD 40 for a barrel of North Sea brent oil and US West Texas Intermediate, respectively, reaching a 6.5-year low - a development mainly attributed to the slowdown in China's economy as investors fear lower demand.
Already a subscriber?Log in here
Read the whole article
Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
With your free trial you get:
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers
Start a free company trial todayRelated articles:
New report: Rig market almost cut in half in 2015
For subscribers
Prosafe takes big hit from oil downturn
For subscribers
Songa Offshore eyes two tough years ahead
For subscribers
