The slippery slope of oil prices
We look at how falling prices could change the fortunes of producers of the world’s black gold.
Oil prices have fallen again to below $50 a barrel, the lowest point since April 2009.
This is good for consumers, because petrol prices are going down, but not for the producers. And that includes the United States, where the future of thousands of ad-hoc, small-time oil wells is under threat too.
Al Jazeera’s Tom Ackerman reports from Pennsylvania.
Oil is also very important to Venezuela, and a deepening recession along with soaring inflation is taking its toll. Venezuela’s public transport system is deteriorating severely. Many of the vehicles are ageing rapidly and a lack of spare parts in the country means many are forced to fix their vehicles using any materials they can find.
Al Jazeera’s Monica Villamizar reports from Caracas, the Venezuelan capital.