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22 Nov 2024 1:28
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      Home > News > Business

    Could we be looking at cheaper petrol soon?

    Could we be looking at cheaper petrol soon?


    Oil prices, which had surged to their highest level in over three years last week are now slumping.

    US crude oil futures have dropped by nearly 10% to trade around $66.50 per barrel, down from about $73 last week.

    The sharp price decline was triggered on Friday by Saudi Arabia, which says it's in discussions with other OPEC nations to pump more oil to ease global supply concerns.

    OPEC oil producers and Russia are due to meet in Vienna on June 22 to discuss easing self-imposed supply caps, which have been in place since 2017.

    © 2024 Newstalk ZB, NZCity

     Other Business News
     21 Nov: New Zealanders can now make contactless payments entirely on iPhones
     21 Nov: COP29: ‘climate finance’ for the Pacific is mostly loans, saddling small island nations with more debt
     21 Nov: A warning your power bill will rise - after the Commerce Commission's issued new guidance
     21 Nov: More work's needed - for New Zealand to meet its climate change targets
     21 Nov: Regional economies don't appear to be out of the woods after some tough operating conditions in the September quarter
     21 Nov: Businesses are in for a major hike to power bills - as households also face price rises
     21 Nov: Fears for the regional ripple effects - with another manufacturing business reducing its operations
     Top Stories

    RUGBY RUGBY
    Former Canterbury representative Blair Murray will start at fullback for Wales in Sunday's test against South Africa in Cardiff More...

    BUSINESS BUSINESS
    New Zealanders can now make contactless payments entirely on iPhones More...


     Today's News

    		 Law and Order:
    Accusations of evidence planting, false statements, and acting in the Defence cross examinations at the murder trial of Tingjung Cao  21:57

     Entertainment:
    Scott Mills feels honoured to be replacing Zoe Ball as the host of BBC Radio 2's 'Breakfast Show' 21:39

     Motoring:
    There's serious injuries... after two vehicles collided on State Highway One, near Palmerston North 21:17

     Entertainment:
    Fiona Shaw insists "the dial is turning" for women in television 21:09

     Law and Order:
    Illegal immigrant gets life sentence for murder of Laken Riley highlighted by Donald Trump campaign 21:07

     Entertainment:
    A New York priest who let Sabrina Carpenter film her 'Feather' music video in his church has been stripped of his duties 20:39

     Entertainment:
    Barry Keoghan began enjoying life more when he stopped "making excuses for stuff" 20:09

     Entertainment:
    Ben Affleck thinks movies will be "one of the last things" to be replaced by AI 19:39

     Entertainment:
    Cynthia Erivo was "annoyed" by Dax Shepard's "inappropriate" question about her long nails 19:09

     Accident and Emergency:
    A person has serious injuries after a crash between a car and motorbike in Marotiri, northwest of Taupo 18:57

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