The 12 worst investments of 2014, #2: crude oil

published 30 December 2014

141230-opec — Opec's refusal to cut production sent the price of oil down below $60 a barrel

Performance in 2014: -45.1%

See all 12of 2014's worst investments here

What happened?

Who are the losers?

Bloomberg's Bradly Olsen and Tim Loh report that American shale oil firms are "already beginning to cut back drilling". Meanwhile, Russia is in the throes of a full-blown currency crisis. The Saudis' strategy is working.

Who are the winners?

What happens next?

In contrast, private bank Lombard Odier believes that "investors probably need to factor in durably lower oil prices than they have been used to over the past three years".