Mit Magzter GOLD unbegrenztes Potenzial nutzen
Erhalten Sie unbegrenzten Zugriff auf über 9.000 Zeitschriften, Zeitungen und Premium-Artikel für nur
Versuchen GOLD - Frei
Oil prices slump after OPEC+ hike
Cape Times
|May 06, 2025
SAUDI Arabia, Russia and six other members of the oil cartel announced over the weekend an output increase of 411,000 barrels a day for June, a month after a similar move had already caused prices to fall.
-
The price of crude has also been sliding because of fears of a global economic slowdown on the back of Trump's tariff onslaught.
The Opec+ move "confirms a stark turnaround away from the production cuts that have persisted since 2022", said a Deutsche Bank research note.
Oil prices fell almost four percent before paring back some losses.
Brent, the international benchmark, was trading at just under $60 per barrel at around 7.15am GMT.
Some analysts pointed to pressure from Trump to lower prices and expectations of declining Iranian oil exports amid tighter sanctions, as possible reasons for the unexpected move.
Others said the motivation was unclear.
Diese Geschichte stammt aus der May 06, 2025-Ausgabe von Cape Times.
Abonnieren Sie Magzter GOLD, um auf Tausende kuratierter Premium-Geschichten und über 9.000 Zeitschriften und Zeitungen zuzugreifen.
Sie sind bereits Abonnent? Anmelden
WEITERE GESCHICHTEN VON Cape Times
Cape Times
South Africa's commercial property sector shows solid recovery and momentum
FNB says it forecasts continued improvement in commercial property conditions.
2 mins
November 27, 2025
Cape Times
What China's new ‘blueprint’ means for South Africa
Local value-addition and technology linkages must be emphasised
4 mins
November 27, 2025
Cape Times
Increased security planned for 'high risks’ sites threatened by extortionists
ELEVEN major construction projects in the Western Cape have been hit by extortion or attempted extortion, putting R470 million in development at risk.
2 mins
November 27, 2025
Cape Times
How Dyalvane revives African spirituality
IT’S BEEN years since I last felt the throb of a headache.
3 mins
November 27, 2025
Cape Times
Fugitive shot in chest after month-long manhunt in Strand
THE man who escaped from the Strand Magistrate's Court a month ago has been rearrested and is under police guard in hospital after he was allegedly shot when he threatened an officer with a knife.
1 min
November 27, 2025
Cape Times
Van Wyk hoping to repeat debut heroics
BLITZBOK flyer Shilton van Wyk returns to the scene of a triumphant desert debut at the Dubai Sevens four years ago, hoping to recreate past successes and get the Springbok Sevens team’s campaign off to a fast, winning start this weekend.
2 mins
November 27, 2025
Cape Times
Tiger Brands shares surge 8% after it announces a R4bn final dividend
TIGER Brands' share price leapt 7.
2 mins
November 27, 2025
Cape Times
A new chapter in African children’s literature
ZEITZ Museum of Contemporary Art Africa (Zeitz MOCAA) has partnered with the African Literary Agency for the global representation of The Stories That Ran Away, a groundbreaking compilation of children’s books published by the museum’s BMW Centre for Art Education.
2 mins
November 27, 2025
Cape Times
IPID investigates alleged police assault
POLICE are accused of assaulting a Ladysmith couple in an incident that left the man's hearing aid broken, a case now under investigation by the Independent Police Investigative Directorate (Ipid).
2 mins
November 27, 2025
Cape Times
G20 Summit in South Africa: A success for MSMEs despite the absence President Donald Trump
SOUTH Africa has officially done the unthinkable: pulled off the first-ever G20 Summit on African soil, smoothly, stylishly, and with enough gravitas to make global leaders nod thoughtfully while sipping rooibos tea.
3 mins
November 27, 2025
Listen
Translate
Change font size