Production freeze proposal falls flat but analysts hail potential significance
Many countries are already pumping at maximum capacity
Oil has lost more than 70 per cent of its value in 18 months
Redundancies come as analysts say crude could bottom out at just $10 a barrel
Iraq, Iran, Oman, Algeria, Saudi Arabia, Bahrain, Libya and Yemen could run out of cash in five years or less
GCHQ uses doctored websites including those from the business network LinkedIn to secretly install surveillance software on the computers of unwitting target companies and individuals it wants to spy on, the German news magazine Der Spiegel has reported.
The country's political upheaval has driven prices high, but fundamentals underpinning black gold are weaker than ever
Voters narrowly elected Hugo Chavez's hand-picked successor as president today, in a razor-close election.