Oil prices have experienced a steep drop in recent months, with experts not believing in a near-term trend reversal. Consumers may be happy, but most producers of the black gold certainly aren't.
The drastic fall in oil prices has pundits wondering when oil-producing nations are finally willing to strike a deal on reducing their output so as to ease the current glut. This page collates recent DW content on the topic.
It's toxic for the environment and also a huge waste of energy. According to recent studies, the oil industry of Nigeria alone flares off 8 billion cubic metres of gas each year.The gas is a by-product of oil production and could be used as energy. But so far, oil companies have avoided making the necessary investments to do that.
Gasoline prices are down in Europe compared to one year ago, which benefits consumers. But the worldwide drop in prices means oil producing countries are tightening their belts. Reese Erlich reports from Muscat, Oman, that lower oil prices are having a harsh impact on ordinary people in the Gulf.