Falling oil prices signal good news for global economic growth

Perhaps the most significant development on world markets in recent times has been the collapse in oil prices since the summer, over 50% since June 2014.

It looks like the price fall will prove sustained as there is no sign of a cut in production to try and boost oil prices, even though global demand is weak.

Notably, Opec has decided to maintain current high production levels in spite of the glut in oil supply.