Oil production plays an important role in the economy of many African countries. The chart shows oil rents as a percentage of gross domestic product (GDP) for the nine African nations most reliant on it, Our World in Data reports.
A sanctioned Russian cargo vessel, Ursa Major, has sunk in the Mediterranean Sea between Spain and Algeria.
The Institute of International Finance (IIF) has forecast a decrease in Russia’s fiscal breakeven oil price (the amount to balance the external current account) to $77 per barrel by 2025, supported by a recovery in oil and gas revenues.
Both Slovenia and Croatia are tapping Algeria for gas imports as the country becomes an important supplier to southern Europe.
Slovenia used to get 30% of its gas from Algeria via Italy, then opted to rely on Russia. Now Ljubljana is scrambling to diversify.