A top hedge fund manager is worried about what the continued low price of oil could mean for the global economy.
"A persistently low oil price could affect producers' ability to maintain domestic infrastructure and in the medium term be a force for geopolitical instability," Sir Michael Hintze, CEO of $14.1 billion hedge fund firm CQS, said in a letter.
Hintze did say that low crude prices would be "broadly-speaking, positive for the global economy." But he noted that the big decline was driven by lower economic growth and not just expanded supply from factors like U.S. shale reserves.
In the short term, the biggest effect will be on indebted oil-producing countries.