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Added on the 29/07/2015 14:40:02 - Copyright : Reuters EN
Midland (Texas), Apr 6 (EFE).- Gas prices across the US are extremely low causing oil prices to drop dramatically in part due to the COVID-19 coronavirus. (Camera: LARRY SMITH).FOOTAGE SHOWS AN OIL PUMP IN AN OIL FIELD NEAR MIDLAND, TEXAS, USA.
Major oil exporters meet in Doha this weekend to discuss a possible production freeze. But even if a deal is struck, analysts offer little hope it will reduce a glut that's pushed crude prices down by 70 per cent since 2014. Kirsty Basset reports.
German consumer morale holds steady going into February as shoppers felt more upbeat about the outlook for Europe's largest economy. As David Pollard reports, there are encouraging signs elsewhere in the euro zone too despite the slowdown in China.
Global oil markets will remain oversupplied at least until the end of 2016 as demand growth slows and OPEC output booms. As Grace Pascoe reports, the warning from the International Energy Agency comes after a bad week for markets.
Royal Dutch Shell has posted a 37 percent drop in second quarter profit. As Hayley Platt reports the Anglo-Dutch oil and gas company is planning to axe 6,500 this year and reduce spending further to deal with persistently low oil prices.