Robust recovery in the United States, a moribund euro zone and slowing Chinese growth reflect global splits which plunging oil prices are likely to widen.
The market consensus is that the China is buying more oil than they need in order to fill strategic reserves.
The halving of oil prices over the past six months has caught pretty much every economist by surprise and prompted a rush to explain the reasons behind this astounding drop and the consequences for the global economy .
The falling oil price is a huge shot in the arm. Nonetheless, it is clear that the ECB will have to do something. There is no growth and the debt burden is too high. The world will be flying on one engine, the U.S., for quite some time.
Plunging oil prices are giving a bump to consumer and business spending around the world -- just not enough to increase global growth forecasts.
Sharp drop expected in global E&P spending in 2015
Gulf stock markets may lose steam on Sunday after oil and global equities fell on Friday, although bets on positive fourth-quarter corporate results and dividends may support some stocks.
Plunging oil prices have sparked a big rally in Asian government bond markets as lower fuel costs cut inflation expectations, but the rally could be built on shallow foundations as monetary policymakers remain out of step with tumbling bond yields.
After last year’s plunges in oil and the ruble, Russian President Vladimir Putin now has another thing to worry about: the price of natural gas.
Crude lost another 11 per cent this week amid continuing worries about a supply surplus as demand slows, with the Brent benchmark falling below $50 a barrel.