Please click the link below to view Shane Oliver thoughts on the fall in the world oil price.

Key points covered are:

• Oil prices have fallen more than 50% over the last year driven largely by a surge in supply relative to demand.
• Further weakness to around $US40 a barrel is likely to be necessary to bring forth supply restraint.
• While lower oil prices are negative for energy producers and this has been weighing on share markets, ultimately it will be positive for growth in industrial countries, Asia and Australia and this should help drive share markets high by the year end.