Investors will be hoping for a potential future rebound in oil prices after their worldwide collapse.
Oil giant's annual and fourth-quarter earnings plummet as it confirms it will cut 10,000 jobs after BG merger
Royal Dutch Shell edges closer to complete merger after majority of shareholders vote in favour of takeover.
With WTI trading at $28 a barrel, commodity miners and traders weighed down stock markets.
Dutch oil giant says decline in oil prices could almost halve its fourth quarter profit.
West Texas Intermediate and Brent Crude, the two main oil benchmarks, are trading below $32.
British stocks lose further ground as FTSE records hefty weekly losses.
Shell and BG were both among the biggest FTSE 100 risers on 23 December.
The move comes following the news that BG Group could be acquired by Royal Dutch Shell.
Shell-BG mega merger, valued at $70bn, will be the biggest oil deal in years.
Royal Dutch Shell is dealing with low oil prices.
Obama administration to also turn down renewal requests on existing offshore leases.
Burger J well exploration too expensive and didn't yield results says Royal Dutch Shell.