Oil plunge: What to do

The sudden slump in oil prices is a game changer. Challenges for local oil stocks are just the beginning.

Summary: The recent drop in the oil price is bad news for Australian producers, but in other countries lower energy prices offer a welcome economic boost. Energy currencies such as the rouble are losers, but the transport sector is a winner as fuel bills fall. High-cost oil producing countries will face budget pressure that could trigger social instability.

Key take-out: All energy producers are losers from a falling oil price as oil is the global benchmark for every form of energy, including coal, renewables and uranium.

Key beneficiaries: General investors. Category: Oil and gas.

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