Now playing Next Economy Oil prices tumble again to near 11-year low Oil prices tumbled four percent on Monday, coming close to their 11-year low – amid fears that the global surplus could worsen in the coming months 14/12/2015
Now playing Next Business Series Shell plans 2,800 more job losses over BG bid Royal Dutch Shell has confirmed plans for 2,800 more job losses should its takeover of BG Group succeed. The cuts come on top of 7,500 redundancies 14/12/2015
Now playing Next Economy Crude oil prices plunge to fresh 7-year lows Crude oil prices hit fresh seven-year lows on Friday as the International Energy Agency warned that global oversupply could worsen in the New Year 11/12/2015
Now playing Next Economy OPEC crude oil output rises to three-year high Unfazed by tumbling prices, undeterred by low demand, OPEC raised its production of crude oil to a three-year high in November. Failure to agree a 10/12/2015
Now playing Next Economy Airline profits looking up for 2016, says IATA Airline profits will be boosted again next year by low oil prices and healthy demand for travel – that’s the confident prediction of the 10/12/2015
Now playing Next World UAE Energy Minister Suhail Al Mazroui: "We will not rely on oil" Faced with the challenge of a declining oil market The United Arab Emirates, a major crude producer in the Gulf is striving to diversify its economy 09/12/2015
Now playing Next Economy Brent crude oil dips below $40 a barrel for first time since 2009 US crude fell below $37 (34 euros) a barrel on Tuesday, and Brent below $40 (36.7 euros) for the first time since early 2009. Oil prices then 08/12/2015
Now playing Next Business Series OPEC: After the latest acrimonious meeting, where now for oil prices? On Business Middle East this week we analyse the repercussions of the latest OPEC meeting decision. According to analysts it’s clear from the meeting 08/12/2015
Now playing Next Economy Saudi-led OPEC policy 'targets shale oil producers' OPEC’s failure to agree new limits on oil production regardless of demand and tumbling prices is seen by some as a deliberate move to send rival 07/12/2015
Now playing Next Economy Oil output to stay high as OPEC fails to agree ceiling OPEC countries are to carry on producing current high levels of oil for the time being. This comes despite complaints that the huge global surplus is 04/12/2015
Now playing Next Economy Energy markets fall as reports say OPEC to maintain output policy Energy markets fell following unconfirmed reports that OPEC has kept its policy of pumping near-record volumes of oil. Anonymous sources quoted by 04/12/2015
Now playing Next Economy Saudi Arabia unfazed as OPEC set to keep oil output high OPEC members have been meeting in Vienna with the oil producers’ organisation widely expected to do nothing to tackle one of the worst crude gluts in 04/12/2015
Now playing Next Economy Saudi Arabia hints it may back oil output cut - if others do too Are there more signs of a chink in the Saudi armour over oil production? OPEC’s effective leader has been softening its stance against cutting 03/12/2015
Now playing Next Economy OPEC 'set to keep pumping oil' despite global glut OPEC is determined to keep pumping oil despite the financial consequences on the policy’s main architect Saudi Arabia, according to Reuters. The news 25/11/2015
Now playing Next Economy Metal prices plunge amid concern over Chinese economy Metal prices have tumbled to their lowest levels for years as commodities bore the brunt of another sell-off. It reflects growing worries over 23/11/2015
Now playing Next Business Series Middle East markets feel blowback from Paris and global fears In this edition of Business Middle East we focus on the recent movements in the oil and stock markets. Due to conflicting global economic figures and 17/11/2015
Now playing Next Economy IEA says oil glut could worsen through 2016 The International Energy Agency has estimated that slowing demand growth – as well as resilient non-OPEC supply – could worsen the oil surplus well 13/11/2015
Now playing Next Economy IEA warns low oil prices may threaten energy security The International Energy Agency (IEA) says the price of oil is unlikely to return to $80 a barrel (74.83 euros) before the end of the decade. This is 10/11/2015
Now playing Next Business Series No hurry to hike: pessimism from BoE on rates and OPEC on oil The Bank of England met on what was dubbed “Super Thursday” on hopes that Bank Governor Mark Carney would have something positive to say on interest 10/11/2015
Now playing Next Economy Arctic withdrawal pushes Royal Dutch Shell into loss Royal Dutch Shell has reported a pre-tax loss of $9.1 billion (8.3 billion euros) in the third quarter, largely due to the cost of shelving several 29/10/2015