Africa Oil Week: Low crude prices dominate discussions in South Africa

The Africa Oil Week is underway in Cape Town, South Africa with just about a single thing on everybody’s mind- low crude prices.

The industry as a whole is beginning to factor this into their plans going forward as prices are predicted to remain in the 50 dollars range for more than a year from now.

That leaves many oil companies with little room to manoeuvre but Africa is still a relatively untapped market for both oil and gas, so many companies have had to adapt to the volatile prices,

CCTV’s Travers Andrews compiled this report.