In this week's edition we take a look at the Zuma effect, surprising ways the economy will change and deliver a sobering Covid-19 report card.
It's good news for South African motorists as the Automobile Association announced a decrease in petrol, in the midst of a massive oil price drop.
The oil price dropped by as much as 22% on Monday due to a fall out between oil-producing nations.
Sasol needs oil at $35 per barrel or more to break even on its energy business, one analyst says. Right now oil is at around $36 – and some think it will drop much lower still.
According to its projections, 95 Octane petrol will drop by around 13 cents a litre in February.
The Department of Energy has announced price increases for petrol and diesel for the month of February.
Iran sold oil to private buyers through its energy exchange for the first time on Sunday, as part of its efforts to counter the imminent return of US sanctions.
Government had little choice but to subsidise this month’s petrol price increase, a decision that preceded the announcement of South Africa slipping into a recession, Energy Minister Jeff Radebe said this week.
Royal Dutch Shell said Thursday that net profits quadrupled in the second quarter, energised by rising oil prices and Asian asset sales.
Top oil exporter Saudi Arabia called for extending cooperation between OPEC and non-OPEC producers beyond 2018, after a deal to cut output succeeded in shoring up prices.
South Africans could see the petrol price rising by about 70c a litre next month, while SARB might have to move from a repo rate cut to a hike, says economist Kevin Lings.
Sasol lost 95% of its share price compared to a year ago predominantly due to its disastrous Lake Charles chemicals project and a low oil price.
It may need to hold a rights offer as it struggles with massive debt burden.
The crash in world oil prices Monday risks severely damaging revenues for crude producing countries and companies across the globe, while benefitting consumers through lower heating and motor fuel bills.
Higher fuel prices have driven up March inflation, and economists expect inflation to tick up even more in coming months.
The Organisation of the Petroleum Exporting Countries has lost what control of the oil market it ever had, is the view of Julian Lee.
South African petrol prices will increase to a record-breaking R17.08 inland this week - up from R9.41 in October 2008.
Crude prices are surging, and oil majors are cashing in.
In a bid to arrest soaring oil prices, South Africa has urged Saudi Arabia to increase oil production.
If South Africa were to build a new oil refinery it needs to be in the right location and able to produce clean fuels according to the latest specifications, says an oil and gas analyst.
The auditor general has found the sale of South Africa's strategic fuel stock to be unlawful and negligent.
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