Consumers benefit from cheaper oil. But the oil industry and oil-producing nations are struggling to cope with the repercussions of falling prices. It’s also a challenge for the global economy.
New technologies are driving the price of drilling for US shale oil down. At the same time, mass production of electric vehicles is ramping up. Together, these two facts spell deep and enduring trouble for petro states.
Nigeria's President Muhammadu Buhari hasn't managed to find a solution to the country's most pressing issue - Nigeria depends too much on its crude oil. Many Nigerians are fed up after the government cut fuel subsidies.
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