The impact falling oil prices have had on general financial instability has been overstated.

Oil: the good, the bad and the ugly

Oil has been undergoing a rout since mid-2014. Brent, the global benchmark, started trading under $US40 a barrel in December and bottomed at $US27.88 on January 20, its lowest level since November 2003. It has since lifted slightly to $US33.10.

  • Contains:
  • Video

Business confidence takes a hit

Business confidence in December showed a small drop but was still in positive territory, according to the NAB business survey.