Oil price collapses on weak demand, growth worries

By Felicity Duncan.West Texas oil prices have fallen more than 20% from their October highs as traders worry about oversupply, falling demand, and slowing economic growth. This puts US oil in official bear market territory..It's a dramatic reversal from the multi-year highs oil was hitting earlier this year and underscores how uncertain the oil market currently is. Worries about the loss of Iranian supply are starting to look overblown while major producers like Saudi Arabia, Russia, and the US have been increasing their production volumes. Yet worries about slowing global growth and emerging market problems are dragging sentiment down..___STEADY_PAYWALL___.It will be a while until lower prices show up at the petrol pump, unfortunately, and a lot can change fast when it comes to oil..In Premium today, you can meet the new chair of Tesla, an Australian with extensive experience as a finance executive. She will have the unenviable job of reining in Tesla's volatile CEO Elon Musk as the company tries to keep up momentum after a strong quarter. You can also find out just why you still have to deal with your confusing office desk phone..I also want to remind you to sign up for our upcoming webinar. Next Tuesday, Alec Hogg will be online, discussing our SA Champions and US Exponential portfolios over lunchtime. You can sign up for the webinar here.

Oil price collapses on weak demand, growth worries

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