OIL PRICE STABILISES AS BRENT CRUDE GAINS AT $65.30 PER BARREL
source: http://www.eyesoflagos.com/2018/02/oil-price-stabilises-as-brent-crude.html

Oil price yesterday extended gains to hit highest level in nearly two weeks as Asian shares joined a global recovery in equity markets. London Brent crude was up 46 cents, or 0.7 percent, at $65.30, after rising more than 3 percent last week.Eyes Of Lagos gathered that, “The upside momentum since WTI hit last week’s low of $58 has been continuing,” said Tetsu Emori, CEO of Emori Capital Management in Tokyo. “Oil got mild support from gains in Asian equity markets, but has been getting pressure from the rise in U.S. rig count and a slight recovery in the dollar,” he said. Trading is expected to be slower than usual due to market holidays in the United States as well as Greater China and India. The U.S. oil rig count, an indicator of future production, rose by seven to 798, its highest since April 2015, according to a weekly report from General Electric’s Baker Hughes unit. That marked the first time since June that drillers added rigs for four consecutive weeks, and the figure was well up on the 597 rigs that were active a year earlier as energy companies have boosted spending since mid-2016 when crude prices began recovering from a two-year crash. Surging U.S. production is offsetting efforts by the Organization of the Petroleum Exporting Countries (OPEC) and some other producers including Russia to curb production by 1.8 million barrels per day (bpd) until the end of 2018.

PMB and his wicked economy policies will still not believes that the crude price is up in the international market. Please stop borrowing...

just booking space for later

PMB has no excuse not to deliver!!!

Okay

wetin concern me? wetin I know be say Rugged man for President..

Still not bad

Oil prices rose 3% last week.

The APC Govt is boasting it increased Foreign Reserves by 1.1% last week and think that's an achievement.

Yankee101:
Oil prices rose 3% last week.

The APC Govt is boasting it increased Foreign Reserves by 1.1% last week and think that's an achievement.

Is an achievement, a very big one for that matter because that is what one PhD holder from Bayelsa could not achieve despite the price of same oil being about 40 percent higher than it present value. With oil prices averagely above 100 dollars, the external reserve was still dropping.

Yet no improvemnet

1.1 percenters oya food done don.

kabrud:

Is an achievement, a very big one for that matter because that is what one PhD holder from Bayelsa could not achieve despite the price of same oil being about 40 percent higher than it present value. With oil prices averagely above 100 dollars, the external reserve was still dropping.

How much subsidy is Buhari paying?

Keep gaining. Don't stop biko

naijapips04:


How much subsidy scam is Buhari paying?

Fixed.

As it rises so will the subsidy aka 'under payment' government will have to fork out for its largest import. Long gone are the days when oil prices determine our fortunes. We are now maturing as an economy learning how to pay our bills and using our hands to feed ourselves.

naijapips04:


How much subsidy is Buhari paying?

Why wait your time with some supporters....they don't believe in Nigeria !

And whenever the illiterate APC governors and do heir cohorts talk about crude oil the say it's 30$ per barrel... Always!!! Asif we don't watch news... Idiots.... Always having excuses and lie up their sleeves....

naijapips04:


How much subsidy is Buhari paying?

I wanted to like this reply twice

we hope it impacts positively on the citizens...

foolish fool, fuel is scarce but u are heere talkin about gains

Abeg who know went Man city vs Wigan scores

And we are yet to see the positive impact on our economy

Thanks to Buhari the price of oil has stabilized.
Another promise by APC delivered to Nigerian.

Will the price of fuel in Nigeria reduce?

If it doesn't translate to a better standard of living for Nigerians, what's our business with this news?

Well, this nation will be great again as we march towards a life of morals; upholding values and respect. I love saying this, especially to Christians, the fate of this nation is in your hands... There's no way this nation will suffer when you live a holy life. But... It's sad to see how our society has fallen so low.
Let's kill immorality in all it's form: sexual most especially... and things will begin to fall in place.

This govt always give excuse of their non performing regime on this quote "during the PDP reign,,price of oil was 100 dollar per barrel,,but under bubu is 30 dollar hence d hardship blah blah" now we know better...Who is deceiving who? useless govt.

Yankee101:
Oil prices rose 3% last week.

The APC Govt is boasting it increased Foreign Reserves by 1.1% last week and think that's an achievement.

Are you that dumb to think all oil revenues are transferred to the external reserves?

Where do you think the Federation account gets the bulk of its funds from?

SMH

naijapips04:

How much subsidy is Buhari paying?

Good question!

I hope they can perform better now but the issue is that this government is a failure on its own coz even if the oil price rises by 100%, they'll still give us excuses for their failure.