Oil prices surged to their highest in a year on Monday, after the Russian president said his country would support OPEC's push to limit production. But now the country’s largest oil company has dashed hopes, by saying it won’t cut its output
Controversial Ukrainian website Myrotvorets has added former German Chancellor Gerhard Schröder to its list of enemies of the state. It’s caused quite a stir — but that seems to be the desired effect.
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.
The fracking of hard-to-reach oil reserves has helped the US regain its crown as the world's top crude oil producer. But even the International Energy Agency (IEA) is now worried that the shale boom has been overhyped.
Saudi Arabia is reportedly examining what could happen if it left the 15-country oil cartel OPEC and became a cartel all on its own. The news comes amid increased political pressure from the US, a rival oil producer.
© 2018 Deutsche Welle |
Legal notice |
| Mobile version