The after-effects of the oil shock
The price of Brent crude oil has moved back above $49 a barrel following the death of Saudi Arabia's ruler King Abdullah overnight.
BP group chief executive Bob Dudley is expecting oil to remain at current low levels for up to three years, leading to job losses and falling investment in the oil sector.
The price of a barrel of Brent crude oil has dropped to below $46 in early trading, a fresh six-year low, as the commodity's collapse showed no sign of slowing down.
The precipitous decline in the oil price has continued this morning, with a further slump in Brent crude seeing it trade below $50 for the first time in more than five years.
No need to panic over oil price in freefall
Saudi oil minister Ali al-Naimi, the most significant voice in the OPEC cartel, has said the group will not cut production even if the price of oil falls to $20 a barrel.
Guinness Asset Management chief executive Tim Guinness believes the price of Brent crude oil will fall to as low as $40 a barrel - and then rebound sharply.
Much of the oil in the ground may never be burned, if the world's temperature continues to rise. What effect will this have on traditional oil and gas players, and where else can investors look?