Price Of Oil At A Six Year Low
The price of oil is at a six year low, after slipping below $45 a barrel.
It has been trading this morning (August 24) at around $39.
That is a massive drop compared to the price of Brent Crude in summer 2014, when it sat at a peak of $110 a barrel.
It's due to an increase in productivity in Iran, as well as the United States of America maintaining a high rate of drilling.
This could mean yet more bad news for the North Sea as projects could be cut short, as well as further redundancies.