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Business Matters: West Texas Crude Oil Hits Year-Low Price

West Texas Crude Oil Hits Year-Low Price

24/11/2018 GMT

BBC World Service - Business Matters, West Texas Crude Oil Hits Year-Low Price

The price of oil is at its lowest for more than a year

The price of oil has dropped to its lowest all year. With a glut in supply and lessening demand, OPEC is pushing allied producers including Russia to join in output cuts of 1 million to 1.4 million barrels per day to shore up the price.The BBC's Middle East Business Reporter Paul Blake explains the factors pushing down the price.

And, will Taiwan actually become the first country in Asia to legalise same sex marriage? Hopes were high last year when the country's constitutional court ruled in favour of allowing same sex marriage, but that's now being tested in a complicated referendum. The BBC's Cindy Sui reports from Taipei on the heated debate.

Also in the programme, on Black Friday, the biggest shopping event of the year in North America, we take the temperature of the retail economy, and hear from Greenpeace's Lu Yen Roloff about why the environmental charity is urging people to buy less stuff. 

We also have a report from Lisbon, Portugal, on whether the city is facing difficulties as a result of having too many tourists, and indeed whether the city can handle any more. 

Plus a look back at the rest of the week's big business stories with Jim Edwards of Business Insider UK, and Nina Trentmann of the Wall Street Journal. 

Throughout the show, Jon Bithrey will be joined by Clive Hunton from ABC News in Canberra.

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