Organisation Of The Petroleum Exporting Countries

The mineral and petroleum resources department attributed this to a lower average Brent crude oil price and firmer rand during the period under review

A wider Middle East war would hit an already fragile and fragmented economy.

A bigger alliance will give the group extra economic heft, but it remains to be seen whether its members can speak in one voice

‘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

Africa’s largest oil producer has not been able to cash in fully on the price rally because of lacklustre production and its reliance on imported fuel

The breakdown of the oil-producer alliance could cause already high prices to spike

Biggest players in the game show signs of recovery but a low-carbon future may threaten fossil fuel

Steep fuel price hikes are the result of higher levies, which came into effect this week, as well as a turbulent international oil market

Oil topped $100 per barrel on Monday for the first time since 2008, as traders fretted over violent unrest in Egypt.

Opec says Europe’s debt crisis and an oversupply of crude in the market are weighing heavily on crude demand in the second half of the year.

Oil prices fell on Tuesday as Opec decided at a meeting against changing the cartel’s official crude output levels, in a widely expected move.

Opec members, gathered in poverty-stricken Angola on Monday, said they would hold output firm amid comfortably high prices.

The oil price of Opec stood nearly unchanged at ,78 at the end of last week, the cartel said on Monday, ahead of its conference in Angola.

Oil fell below a barrel on Tuesday, pressured by gloom about prospects for world economic growth.

Opec ministers on Wednesday agreed to remove a record 2,2-million barrels per day (bpd) from oil markets.