Tanking oil prices force exploration stocks down

The low price of oil continues to spell trouble for Irish exploration companies.

Irish oil firms are currently taking a battering due to the commodity's low price.

When Saudi Arabia is considering tapping up the bond markets, you know that oil prices are probably in trouble.

And last week, that was precisely what happened, with news that one of the most powerful oil-producing nations in the world was considering a plan to raise $27 billion (€24.5 billion) by the end of the year to fund its domestic spending, given the continuing low price of oil.

For Irish oil companies – ...