Tuesday, 26th October 2021
<To guardian.ng
Search

How low can it go? The collapse of crude oil prices

By France24
23 April 2020   |   3:43 pm
With the global economy grinding to a sudden halt because of the Covid-19 pandemic, oil prices are going through the floor with suppliers fast running out of room to store the stuff. That’s terrible news for oil producers the world over, particularly in countries who rely on hydrocarbon handouts to keep regimes afloat. But if you’re dreaming of free fill-ups, don’t hold your breath. It might not be such great news either for cash-strapped consumers: for one, much of the price at the pump is tax and it will only fall so much.

Related

21 Oct
Ghana's smock garment used to be reserved for royal use. These days, a flood of imported yarn has opened the market to near universal use, and the smock has become a Ghanaian clothing icon. Yet the country's collapsed cotton industry has left the financial fortunes of weavers and smock makers hanging by a thread.
21 Oct
New Zealand Prime Minister Jacinda Ardern announces a comprehensive in-principle free trade agreement with the UK, arrived at after 16 months of talks. London said the deal ends tariffs on British exports such as clothing, footwear, ships and bulldozers. It estimated that trade between the two countries last year was worth £2.3 billion ($3.2 billion, 2.7 billion euros).
2 days ago
The two sides seem worlds apart after the first day of discussions, which were intended to be about rising energy prices, but ended up being overshadowed by an increasingly bitter feud over the rule of law.
3 days ago
"Big John," as the dinosaur was nicknamed, went for millions above the initial estimate from French auction house Druot.
2 days ago
Germany is relatively new to the list of countries with a minimum wage. Now, government coalition talks are considering raising it without using the country's independent expert commission. There are pros and cons.
2 days ago
The head of the Fairtrade Foundation says consumers, businesses and governments need a ‘reality check’ on the situation facing farmers in developing countries. CEO Michael Gidney speaks to FRANCE 24 ahead of the COP26 climate conference, where Fairtrade will be bringing a pledge for businesses. In this pledge, companies will promise to invest in more sustainable supply chains and provide guaranteed prices to farmers.
4 days ago
Here are a few reasons to pick up a copy of The Guardian on Saturday. Find these stories and much more when you grab a copy of The Guardian on Saturday.⁣ ⁣
1 day ago
Luxembourg joins only two other countries and a handful of US states in decriminalizing the cultivation of cannabis for recreational use. However, Germany may not be far behind.
1 day ago
A cocktail bar owner in Bangkok hopes fruity mocktails seasoned with Kratom, a recently decriminalised tropical herb, will help keep his business afloat amid a seven-month ban on alcohol service in the Thai capital. The city, once a popular nightlife spot, is under a curfew and bars, pubs and restaurants are prohibited from selling alcoholic drinks as part of coronavirus restrictions.
1 day ago
Here are a few reasons to pick up a copy of The Guardian on Tuesday. Find these stories and much more when you grab a copy of The Guardian on Tuesday.⁣⁣⁣
12 hours ago
Facebook reported an annual 17 per cent jump in third-quarter net profit, driven by an increase in daily active users and strong advertising sales despite the platform facing multiple controversies that have led to calls for tighter regulation.
3 hours ago
Here are a few reasons to pick up a copy of The Guardian on Wednesday. Find these stories and much more when you grab a copy of The Guardian on Wednesday.⁣⁣⁣⁣