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What future for OPEC? [Business Africa]

Business Africa

Another fall in global oil prices despite OPEC agreement to cut oil production.

When will the current war on oil prices end?

The question resurfaces as the price of black gold continues to fall despite an OPEC agreement to reduce world production to 10 million barrels per day.

The decision, however, is not respected by many of its member countries including Saudi Arabia.

Congo: oil production

Current oil crisis does not seem to influence oil production in the Republic of Congo which recntly signed a 20-year oil deal.

The current crisis experienced by oil-producing countries does not seem to influence oil production in the Republic of Congo.

The country recently signed an oil production sharing deal which includes the exploitation of gaseous hydrocarbons.

The contract could eventually deliver more than 500 million barrels of oil over the next 25 years.