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.
Has the oil price finally hit a turning point? More investors are banking on reduced output and rising prices. This is a good thing, to a certain extent, Rolf Wenkel finds.
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.
Cheap oil prices have been massively affecting global markets, from countries' budgets to world food prices. Now the oversupplied oil market is in for a rebalancing as non-OPEC producers like the US and Russia cut back.
State-owned Saudi Aramco, the world's biggest oil company, is considering selling a small minority of its shares to private investors. It's part of a wider drive to part-privatize Saudi state-owned companies.
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