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Opec prepares to call emergency meeting over oil price slump

Cartel president Diezani Alison-Madueke says further price volatility would make it highly likely she would call an emergency meeting in the next six weeks<p>Opec is preparing to call an emergency meeting as oil producing nations fret over the slump in crude prices.<p>Nigeria’s oil minister and the …

Oil

Why the low oil price will not harm sales of electric cars

FILLING the tank is one of the more painful aspects of modern motoring as numbers whirr on the pump at wallet-draining speed. The falling price of …

Electric Vehicles

Global stocks fall on mixed data; oil rebounds | Reuters

NEW YORK (Reuters) - U.S. stocks closed lower on the last trading day of February after mixed U.S. economic data on a day when European stocks hit records and oil prices rebounded for their first monthly gain since June.<p>Traders work at their screens in front of the German share price index DAX …

Stock Markets

Naira Gains On Dollar Sales By Oil Firms • Channels Television

<i>Nigeria’s local currency firmed 1.13 percent against the dollar on the interbank market in thin trade on Monday, supported by dollar flows from two</i> …

Iraq predicts oil price recovery

IRAQI Oil Minister Adel Abdel Mahdi says he expects the price of crude oil, which dropped to a six-year low in January, to continue recovering to …

Why the oil price is falling

THE oil price has fallen by more than 40% since June, when it was $115 a barrel. It is now below $70. This comes after nearly five years of …

Saudi Arabia: Don't blame us for oil's big plunge

Saudi Arabia isn't a fan of the "conspiracy theories" surrounding the kingdom's oil policies.<p>Oil took a massive plunge from over $100 a barrel in July to under $50 in January. Saudi Arabia's refusal to cut production, especially when oil hit around $70 at Thanksgiving, raised eyebrows about the …

Oil

Credit Suisse thinks oil prices could fall as the market approaches 'super contango'

That means that the futures contract price is higher than the expected price. So for example, people are entering into futures contracts at say, $60 a barrel, but actually expect the future price to be lower at say, $50. This difference usually accounts for various real world things like the cost …

Oil

The fall in oil price could be a turning point for Nigeria’s economy

As oil-dependent Nigeria heads towards the elections, the instability of global prices will cause challenges<p>The drumbeat of war is sounding on the streets as Nigeria prepares for the 2015 elections.<p>The election, due in February, has been postponed by six weeks to 28 March, ostensibly to allow the …

Africa

Russia can't afford to pay state employees

The government has also announced plans to cut the number of government officials by 5% to 20%.<p>The measures are part of the government's emergency plan to address collapsing revenues due to the fall in global oil prices and economic sanctions imposed on the country. Crude oil is trading at about …

Russia