Oil has been pumped in the region since the 19th century. That attracted oil-related industries. Now these enterprises are feeling the pinch and canceling many investment projects. Companies in Celle have been hit, as well.
The cartel pumped more oil in July, boosting global supplies for the third month and casting doubt on OPEC's pledge to reduce production. But the IEA industry group hopes growing demand will take up the slack.
Venezuela might look bad right now amid protests, scarce food and political turmoil. But analysts warn the worsening debt crisis could greatly exacerbate the dire situation - and possibly force a regime change.
As a traditional oil production town, Germany's Celle has long attracted oil-related industries. Now these enterprises are feeling the pinch and canceling many investment projects.
The city of Aberdeen is synonymous with the oil industry. Over the years, major companies like BP and Shell have invested there. As a result, Aberdeen has more millionaires per capita than London.
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