Lower oil prices are no reason to panic

There are numerous reasons why the oil price has been falling. China's growth is slowing, OPEC is happy to keep pumping the same amount of oil regardless of price, shale producers are adding to supply and fears are increasing that Europe is again heading for the economic abyss. Companies big and small have been hit hard, and not just in the oil sector. Anything related to the resources industry has been sold off. If the oil price is going to stay low then the sell off might be justified, but is this merely a short term phenomenon or something more...

There are numerous reasons why the oil price has been falling. China's growth is slowing, OPEC is happy to keep pumping the same amount of oil regardless of price, shale producers are adding to supply and fears are increasing that Europe is again heading for the economic abyss.

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