OPEC’s oil basket price drops to $25 a barrel
The average price for a basket of crudes from OPEC producers fell to $25 a barrel on Thursday, the group said, even before unrestrained exports from Iran hit the market. Continue Reading
Ghana: Oil Price Crash – Petrol Could Become Cheaper Than Bottled Water
Petrol will soon cost less than bottled water as the relentless decline in oil prices sends fuel down to 86p a litre, it has been claimed. Brent crude fell to Continue Reading
Nigeria: ‘Nigeria Must Dump Oil for Gas Production Now’
The only sure way to get Nigeria back on track economically is to direct attention to the production of natural gas. This was the submission of Gen. Martin Luther Agwai Continue Reading
Venezuela data shows inflation at historic high
 Venezuela on Friday released its first economic data in more than a year Friday, showing an economy in shambles and inflation at a historic high. The Central Bank for the Continue Reading
Venezuela decrees 60-day economic emergency
The Venezuelan government has announced a 60-day economic emergency to deal with the country’s worsening crisis. President Nicolas Maduro will rule by edict for two months. The decree includes tax Continue Reading
China’s economy grew by around 7 percent in 2015, services made up half of GDP – Premier
China’s gross domestic product (GDP) totaled more than $10 trillion in 2015 and the economy grew by around 7 percent, with the services sector accounting for half of GDP, Premier Continue Reading
Mexican Crowds Defy Authorities, Steal Diesel from Pipelines
Rebellious crowds of people in a rural area in central Mexico are defying police and soldiers by stealing diesel from illegally tapped pipelines, creating the potential for fires that have Continue Reading
China’s record fuel exports show changing economic dynamics: Russell
Sort of lost among the attention given to China’s record crude oil imports in December was the fact that the nation’s exports of refined fuels also hit an all-time high. Continue Reading
Banks Brace for Bigger Losses After Oil Drops Below $30
The Wall Street banks that financed the U.S. shale boom are facing growing losses as oil falls below $30 a barrel. Losses are spreading from bondholders to banks amid the Continue Reading
More Banks Take Hits on Energy Loans
Citigroup said it built up its loan-loss reserves by $250 million in the fourth quarter to cover risks in its portfolio of energy loans—part of an overall reserve buildup of Continue Reading