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Business Matters: Crude Oil At Lowest Price Since 2009

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Crude Oil At Lowest Price Since 2009

08/12/2015 GMT

BBC World Service - Business Matters, Crude Oil At Lowest Price Since 2009

The price of oil drops to near seven years lows after OPEC refuses to cut production.

The price of oil drops to near seven year lows after OPEC refuses to cut production despite supply already outstripping demand around the world.

The price of oil is scraping near the bottom the barrel - on Monday it dropped to near 7 year lows after OPEC refused to cut production in a meeting last week. Supply continues to outstrip demand and as shale oil producers in the US increase competition amongst traditional producers, margins across the board look set to fall. We hear from Abishek Deshpande, Lead Oil Market Analyst at Natixis bank.

How did a state-of-the-art NATO assault rifle made in Belgium end up in the hands of a terrorist movement in the Gaza Strip? A BBC investigation tracks the movements of the F2000 to find out where guns in the Middle East are coming from.

Venezuela's 16 year unbeaten Socialist rule has come to an end. Parliamentary elections sounded a confident victory for an opposition coalition which now promises to free political prisoners and turn the country's dire economy around. We speak to Francisco Panizza of the London School of Economics.

China issues its first ever 'red alert' over smog levels, Phil Mercer has the latest from Australia and can a business call itself ISIS anymore?

Joining us throughout the programme are Jose Martin, radical organizer in Washington and Catherine Yeung, Investment Director at Fidelity Worldwide Investment in Hong Kong.

(Photo: Oil well Credit: Getty)

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