For decades the world’s major oil producers have tried to control prices by cutting or raising supplies, which relied on all of them sticking to agreed quotas.
But unity amongst oil-rich nations appears to be crumbling.
Now Russia has just overtaken Saudi Arabia as the world’s biggest producer and it’s done it by failing to keep its promise to slow down production.
Neave Barker reports from Moscow.
Duration : 0:2:31
Hitting “peak oil” (and then riding it all the way down) is going to be the major event in our lives. It’s going to change everything about the way we do everything, and has the potential to completely decimate what we have come to know as “civilization”.
Duration : 0:8:16
This video features interviews with a number of experts who believe the world has already reached or passed maximum oil production and now we’re at the point where demand will exceed supply, forever.
Duration : 0:10:10