The mineral and petroleum resources department attributed this to a lower average Brent crude oil price and firmer rand during the period under review
From a promising start to a timid end, this year’s Conference of the Parties hasn’t delivered enough
But prices are expected to remain higher for longer in the wake of a tighter oil market
‘The worst is yet to come,’ the IMF said about the global economy this week. But, for now at least, South Africa’s inflation looks to be subsiding
Ahead of travel season, Wednesday’s fuel price hike will push the price of petrol – around R19.50 a litre – to above R20 in Gauteng and other inland provinces
The breakdown of the oil-producer alliance could cause already high prices to spike
Here’s our round-up of the outlook for electricity, taxes, fuel, wages and the economy
OPEC members and other oil-producing countries gather in Vienna on Thursday to discuss cutting output to prop up prices
The decision was ‘technical and strategic’ and had ‘nothing to do with the ‘blockade’, says Energy Minister Saad al-Kaabi
The petrol price could drop by about R1.50 a litre, if not more, in December
Rising oil prices can push up inflation, but first, they translate into rising revenues and profits for energy majors and producer nations
A rapid price hike will result in South Africans paying more for food and transport.
Oil’s recovery from a six-year low has slowed amid speculation that global production will expand as prices rebound, prolonging a surplus.
Opec crude oil output has risen to its highest level in almost four years but the US shale boom is showing signs of slowing.
The energy firm’s largest investment in the United States is likely to be in jeopardy if the current conditions prevail.
The oil cartel believed it could help production. Instead, it ended up hurting itself, energy stocks, commodities and other economies.
Indonesia’s parliament voted on Saturday to give the government authority to raise subsidised fuel prices under certain conditions.
Oil price soars as Iran, Opec’s second-highest producer, halts exports to British and French companies.
<b>Godwin Sweto</b> responds to Jeremy Wakeford’s opinion piece on Project Mthombo, PetroSA’s proposed 360 000 barrels-a-day crude-refinery project.
Libya’s air force stepped up air strikes and heavy shelling was heard on Tuesday as the revolt against Muammar Gaddafi entered its third week.
US envoy warns that reserves are perhaps 40% overstated and the kingdom won’t be able to keep prices down.
Hundreds of youths clashed with police in several cities in Algeria, including the capital, over food price rises and chronic unemployment.
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/ 8 September 2009
Oil at close to means Opec will almost certainly keep existing output cuts in place when it meets in Vienna on Wednesday.
Opec ministers on Thursday decided to ”stay the course” and keep output steady as they bet on a strengthening economy to boost oil prices.
Oil ministers appear ready to sit back and let a recovering economy lift crude prices instead of trying to bolster them by cutting back production.
Oil rose towards a barrel on Wednesday after US inventory data showed an unexpected drawdown.
Opec’s call for compliance with recent production cuts could undermine a global economic recovery, the Centre for Global Energy Studies said on Monday
Worries about global economic growth and expectations of a weak US jobs report pushed oil prices lower on Friday.
Oil jumped to a three-week high on Monday after an Iranian military commander called for an oil boycott over Israel’s offensive in the Gaza Strip.
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/ 12 December 2008
Angola approved a -billion spending plan for 2009 despite fears the recent slump in oil prices will increase the country’s budget deficit.
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/ 30 November 2008
Gulf producers want to see strict compliance with recent output curbs of two million barrels a day before considering further reductions.
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/ 27 October 2008
Oil fell to near a 17-month low on Monday, extending the previous session’s loss amid growing doubts over whether governments can tame a crisis.