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Added on the 29/01/2016 13:14:13 - Copyright : AFP EN
With oil futures plunging below zero on Monday, Stephen Innes, head Asia Pacific market strategist, Axitrader, predicted more pain to come for the oil and related industries, including airlines.
In Lagos, more than two hundred people demonstrate against the fuel price hike. Nigeria's government has warned against "illegal strike action" after some union members vowed to press ahead with a national strike over petrol price rises despite a court injunction.
Sky-high salaries once attracted thousands of workers to this small city in the heart of Canada's oil sands but after crude prices plunged, Fort McMurray is now lamenting a brief golden age. Duration: 01:38
At $45 a barrel, world oil prices are now nearing a six-year low. Food prices have actually dropped here in Europe, whilst airlines are slashing ticket prices. But environmentalists are warning that the current glut in supply could be short-lived. The IMF sees it as a window of opportunity to cut costly fuel subsidies in places such as India and Africa. Will low prices signal opportunity, or uncertainty?
At $45 a barrel, world oil prices are now nearing a six-year low. Food prices have actually dropped here in Europe, whilst airlines are slashing ticket prices. But environmentalists are warning that the current glut in supply could be short-lived. The IMF sees it as a window of opportunity to cut costly fuel subsidies in places such as India and Africa. Will low prices signal opportunity, or uncertainty?
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