For years the Saudi's and Russia were the world's largest oil producers - with the US being a net importer of oil…
But that's changed overnight.
US oil production increased by 2 million barrels per day since 2018.
The US now produces 12 million barrels of oil per day. Russia trails the US with 10.65 million barrels per day and Saudi Arabia is third in the world, producing 10.2 millio... ››› more
Two steps forward one step back. This is the story about the petrol price in South Africa. In the beginning of March, the petrol price rose 96c a litre. And on the 1st April, you can add an extra R1.62 to the fuel prices.
Unfortunately, this won't be an April Fools Day prank at all! There's something bigger brewing. And it all starts with the ongoing violence between Saudi Arabia and Yemen.
... ››› more
In June last year, the oil price started its descent. By January, the oil price had lost over 50% of its value.
Since the middle of January, the price has picked up. But yet again it's been under pressure.
And today, oil fell close to $55 a barrel.
So what's going on with the price of oil?
Let's take a closer look…
Comments made by Saudi Arabia’s oil minister sends the oil p... ››› more
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