OPEC output falls most in almost two years
03 January 2019 |
11:19 am
OPEC's production plunged by the most in almost two years in December, even before the deal to cut oil supplies started. Output fell 530,000 barrels a day to 32.6 million.
Related
23 Apr
As Germany looks to ditch Russian oil and gas for good, its domestic energy industry is a key side actor — but can it step up to the plate? We search for clues in the village where Germany's oil sector was born.
24 Apr
Vehicles were left burnt out and fuel pooled on the ground in Nigeria's Imo state on Sunday following an overnight explosion at an illegal oil refining depot. The state commissioner for petroleum resources, Goodluck Opiah, said late on Saturday that 100 people were killed in the explosion, remarking that they were "burnt beyond recognition."
25 Apr
Burnt cars and vans were strewn across the site of a blast on Sunday which occurred at an illegal oil refinery depot on the border of Nigeria’s Rivers and Imo states.
1 May
The ban from the world's largest exporter has rocked an already precarious edible oil market. The price of cooking oil has soared as war rages between sunflower oil producers Russia and Ukraine.
25 Apr
At least 80 people have died in an explosion at an illegal oil refinery in southeastern Nigeria, emergency officials say. The disaster highlights the country's problems with oil theft amid high levels of poverty.
2 May
Djeneba Belem's fried bean cake stall in Abidjan is a world away from the war raging in Ukraine. But her business is now at the mercy of an unexpected consequence: runaway palm oil prices. The conflict has helped propel prices for palm oil - ubiquitous in African dishes from Nigerian jollof rice to Ivorian sticky alloco plantains - to record highs that experts say will deepen a food-cost crisis and punish the poorest.
28 Apr
Thousands of miles from Ukraine's battlefields, millions of Africans are feeling the impact as the chaos on the global commodities markets hits goods like palm oil.
7 May
EU leaders are expected to present the proposed embargo later this week. Supporting the measure would be Germany's second turnaround in as many weeks with regards to Ukraine.
2 May
The oil embargo could be upheld for years, the German Foreign Minister Annalena Baerbock said. Her Green ally Robert Habeck said complete independence from Russian oil was possible by late summer.
12 May
The European bloc is moving closer to banning Russian oil with Germany changing course to support the embargo. But many questions remain open.
7 May
As EU member states push for a Russian oil embargo, Germany's PCK Schwedt refinery is facing an uncertain future. It runs wholly on Russian imports, and many locals aren't so sure alternatives can be found in time.
5 May
Hungarian Prime Minister Viktor Orban and Brussels are at odds again. Hungary refuses to support the planned oil embargo against Russia. But now even former allies such as Poland are turning their backs.
Latest
24 mins ago
More than 80 people have been injured in southern India as villagers continue to protest the building of a seaport. The project is being financed by Asia's richest man, Gautam Adani.
24 mins ago
A former teacher has been accused of more than 100 cases of sexual abuse against children and teenagers. The crimes allegedly occurred over more than two decades in the western state of Hesse.
24 mins ago
30 percent of African women are entrepreneurs. Their contribution to African economies is vital. But they could do much more, if treated just like their male counterparts.
1 hour ago
Two more teams qualify for the World Cup last 16, meaning that there are still 13 squads looking to book their place. If you thought the matches were exciting so far, they're bound to get even tougher over the coming days. Portugal make it through with a double from Bruno Fernandes, as do Brazil despite Neymar’s absence. Plus, Cameroon come from behind in a 3-3 thriller against Serbia, while Ghana beat South Korea 3-2.
1 hour ago
Thousands of striking truck drivers in South Korea have been ordered to return to work or face severe consequences. The strikes organizers say they will not yield.
