After the US decided to scupper the Iran nuclear accord and impose new sanctions on Teheran, oil prices have surged. DW discussed market developments with Claudia Kemfert from the DIW think tank.
When the price of crude oil tumbled dramatically between 2014 and 2016, it heralded the demise of an economic and geopolitical world order in place since the end of World War II.
Giant petrochemical companies have announced a wealthy alliance to tackle plastic pollution. But there's little talk of scaling back production to help the environment.
An oil crunch is looming on the horizon in the absence of government intervention and unprecedented output increases, the IEA said. One scenario anticipates peak oil in 2040.
President Donald Trump's call for OPEC to keep oil flows unrestricted drew criticism from Saudi Arabia. The oil cartel convened in Vienna to discuss cutting output, in a bid to bring prices back from a two-month slump.
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