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Nairaland Forum / Nairaland / General / Business / Crude Oil Price Could Fall To $20 In 2016 – IMF (24431 Views)
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Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by TimeManager(m): 1:28am On Dec 27, 2015 |
@princejayboss, OPEC Could Control Not Less Than 30% Yet Has The Biggest Oil World Reserves. Its Not Far-fetched Why Non-opec Holds Large Share; They Are Rather Price Takers. OPEC Has No Control Over Market Volatility & Price Stability But Its Internal Mechanisms Affects Market Stability & Non-Opec's Response. The Priority Of OPEC Is To Maintain Its Market Share. Its No Fault Of OPEC That The Likes Of Nigeria, Venezuela.., Depleted Their Resources Unlike Saudi, UAE, Kuwait., Who Enjoys Strong Reserves & Could Afford Oil As Low As $10. Oil Glut Will Continue Especially In The Face Of Shale Oil. This Is An Era Of Oil War. No Matter What Non- Opec Does, OPEC Will Continue To Flood Production And Maintain Its Market Share. 2. Nothing Wrong With Chad Oil Exploration, Ask Yourself How Much UK Is Spending On Her Oil Exploration With The Hope Of Joining The Market Soon Enough As Do Other Nations Exploring Oil On Daily Basis. Oil Is Big And A Huge Source Of Energy. The Truth! 1 Like |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by TimeManager(m): 1:41am On Dec 27, 2015 |
@DrDauda, Keep On Deceiving Yourself, Okonjo Said We Needed To Save Yet Depleted The ECA Without The Approval From The Governor's Forum. What Would You Have Amaechi Do As The Chairman? Fold His Hands And Allow FG Keep Withdrawing From ECA Without Any Action? Better Share The Monies Than To Allow The FG Withdraw It All, Leaving The States With Nothing. A Very Good Decision By Amaechi. No Lie Only Truth! |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by TimeManager(m): 1:50am On Dec 27, 2015 |
@dokiOloye, Okonjo Can Deceive Your Likes That She Is Saving For The Rainy Days Yet Kept Withdrawing From ECA Without The Approval From The Governors Forum. Its Better To Share The Monies Than For FG Spend It All Alone. Amaechi Was Spot on. The Truth Has Spoken! |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by princejayboss: 2:37am On Dec 27, 2015 |
TimeManager: Truth or no truth .... As a physicist... I will tell you this .... A change game is coming where and when nobody will need crude ... Take or leave it .... It was predicted over 100years ago by mr Einstein but by the no technology that facilitate the conversion process to fluid fuel.... Now today we have it ... We can convert solar energy energy into a fluid fuel .... In just 3years we can make enough fuel that can power the world for 36,000years.... If you need more lecture on that inbox me ..... 2. Exploration in Nigeria side of Chad basin is a waste of tax payers money, and a means to loot and search of political correctness ..... I will tell you that every land has crude but what every land dies not have is the commercial quantity of the crude along with purity of the found crude. Nigerian side of Chad basin can not and does not have what it takes to habit the conversion of hydrocarbons.... At least for the next 20years .... No body will see oil there .... Why is it that the entire oil exploration companies has rejected the job?... Why is NNPC handling the job or when has NNPC became an oil exploration company? Recently NNPC bought 3way Dimension seismic machines to upgrade their drilling power but all effort proved abortive... Science are not stupid.. I want you to understand that we must not support a government at all cost even when our future is threatened..... Creation of billions of naira to explore in Chad basic is just a process of stupidity and political correctness. Finally, we as a nation should watch our future as fast as we can.... I came back to Nigeria for Xmas since three days now ... And I have not seen light, my son asked me if Nigeria does not have light as one of her natural resources? He thought that electricity is a natural resources. 170million population are still hoping for oyibo for help.... What's the population of rusia that has been challenging the US..... I can tell alot Nigerians around the world who does unimaginable job for countries in different aspects of science yet back our useless leaders who want to rule even from their grave age can never ask for their help Is a shame the Nigeria does not have future ... If we allow this old men and families with political blood lines to remain and recycle our federal wealth then there no leaders of tomorrow that will come 8 Likes |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Nobody: 2:53am On Dec 27, 2015 |
DrDauda: Its obvious you spend all your time in the sexuality section, may God punish your cursed soul for that. I won't be joining issues with you as silence will always be the best answer for a fool_ Moronic dumbass |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by lilreese: 3:00am On Dec 27, 2015 |
Nigeria needs to diversify |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by TheAlchemist: 4:48am On Dec 27, 2015 |
With low oil price and given IMF prediction of $20/barrel it is time to see mergers in the upstream sector, the era of marginal field operators is definitely a thing of the past as they can not survive with crude oil selling at such a low price. There is a need to achieve economies of scale by indigenous oil producers in order to lower cost of production per barrel. The government should encourage all marginal field operators as matter of urgency to adopt mergers as a means of achieving economies of scale, which will lead to reduction in the Marginal Cost of Production (MCP). NIGERIA WILL SURVIVE!!! |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by suco50(m): 4:56am On Dec 27, 2015 |
OPEC admitted few days ago that the current fall in oil price will last for next 4 years until Year 2020 when there's projection that the price will rise to $70 per barrel. ![]() |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Nobody: 4:59am On Dec 27, 2015 |
roughdiamond: There is nothing this administration can do about it, there is a global recession triggered by IMF , and oil production is being axed worldwide for the sake of so called green energy. The 1930s are here again. |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Nobody: 5:02am On Dec 27, 2015 |
TheAlchemist: There is nothing a merger will do here, the fact is that alternative forms of energy are being discovered and developed, electric cars and the rest. Anyone thinking of making mass investments in oil explorations is making a mistake, the oil giants like total and shell saw this yrs ago when the started selling off their oilfields and platforms to nigerians at give away prices. 1 Like |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by henryutd(m): 5:08am On Dec 27, 2015 |
babosky2008: You mean Buhari is the Messiah we have been looking for? Bros I doubt. May be John the Baptist. |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by ehin7: 5:11am On Dec 27, 2015 |
Is good we sell @ $1 per barel that is what biafra depend on so Nigeria will have peace |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by zheroes(m): 6:08am On Dec 27, 2015 |
TOEZOFFICIAL:if you don't have something better to say kindly log out, people didn't vote PMB because of what you just said, he was the bestest candidate amongst all the contestants, even your incumbent GEJ lost the election and would have been more clueless and calamitous at this time, because the military would have taken over for sure. |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by FuckTheMod: 6:10am On Dec 27, 2015 |
Abiagirl777:Your fada |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by richiewilnos: 6:35am On Dec 27, 2015 |
This is the time we needed our judiciary to cooperate with anti corruption agency to end all our looted fund cases within six(6) months from high Court to Apex court. Reason being that the money would be return in full to fund the 2016 budget without borrowing. Since Abacha looted fund were recovered and returned back to this country without litigation, our judiciary should just used there power to over rule frivolous motion and adjournment. |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by MrEverest(m): 7:06am On Dec 27, 2015 |
This country is finished.A combo of Selfish leaders & ignorant followers will always bring disaster. Agriculture is dormant, solid minerals is dormant, everybody is waiting for oil money because its like free cash, ok but today many are selling it & few are buying. The make matters worse, the North is still busy breeding children like rabbits because they feel they will use it to win elections & get more oil windfall, tell them about birth control & they will tell you its anti islam. In 2050 Nigeria will be the third most populous country in the world with a comparatively small landmass, impoverished populace that cant afford 3 square meals, maybe by then 99% will be below poverty line, what an accursed country!!! 1 Like |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by drnelson: 7:10am On Dec 27, 2015 |
[size=28pt]It is well. Rest assured that at $20 a barrel the 44 million dollars daily will enter our treasury under the watch of Buhari. It is better for Nigeria with oil at 20 amd Buhari than oil at 130 and jonathief as president. Igbos oya take over abuse me finish.[/size] 1 Like |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Barywhyte(m): 7:14am On Dec 27, 2015 |
zheroes: Bro I follow you because you are a very sensible person. I believe the task of sanitizing Nigeria is one that will span generations and is certainly not going to start with present crop of leaders and youths. Do you know why? because we are problems first to ourselves and then to the country. We are the greatest un-loyal citizens of the world. 1 Like |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by October1960: 7:17am On Dec 27, 2015 |
I like and suppprt PMB. But I doubt if there are enough people around him to successfully navigate this situation. I am an optimist but need to face reality. The huge numbers of thieves in government positions not just politicians for the past 30 or more years have drained this country dry. Since the infrastructure is below what is needed I wonder how we can grow a modern economy if oil prices keep dropping? |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Nobody: 8:23am On Dec 27, 2015 |
October1960:it is time for regionalism..true federalism...It is time..Now is the time for any dullard in this administration to check up the confab report and espouse it...nigeria can't go on like this forever..Our collective foolishness can not continue forever 1 Like |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by dcitizen: 9:05am On Dec 27, 2015 |
We need to bring back mrs ngozi, the former minister of finance. She really saw the future. During gej administration, she discussed about saving for the rainy day in anticipatation of the fall in the oil price in the international market. But some governors especially rotimi ameachi muted the ideas by dragging her to court. Now, we are paying the price of lack of forsight. We should hold this government accountable for poor policy articulation. Buhari need help now before nigeria turn to zimbabwe. |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Bevista: 9:41am On Dec 27, 2015 |
IzonOwei:Your sentiments are fully noted. Nice to see ND indigenes like you finally opening their eyes to the real problems. |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by gemale(m): 10:36am On Dec 27, 2015 |
CHAI!!! It's times lyk dis dt makes me feel lyk askn God y he made me a Nigerian. Check it... All d problems we have in dis country r all man made. I'm sure God self is even tired of dis country. Afta many years & generations of politicians, leaders (both military & civilian), civil servants & their cronies robbing d country blind, D chickens have come home to roost. & somebody wld nw come & say '1 Nigeria'. When oil prices were @ $150/barrel,wt did we do wt it? During d global recession when oil was @ $50/barrel, we still didn't take heed 2 diversify d economy & boost local production so as 2 reduce importation drastically. Nw d suffering we wld suffer if d oil price continues 2 drop wld b worse Dan Greece' own because we dnt have an EU 2 bail us out. Naija don tire me o. |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Nobody: 11:52am On Dec 27, 2015 |
Bollinger: Bia, in the last 6 months which GOOD thing has come out of this PRESENT administration other than play blame game. Fry pan to fire is what is happening now. |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by tefund(m): 12:09pm On Dec 27, 2015 |
fuckerholic:bros that is my daily prayer point 1 Like |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by front247: 12:57pm On Dec 27, 2015 |
let it drop to 0 dolars a barrel so dat make nigeria get sense |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by joeshed(m): 1:08pm On Dec 27, 2015 |
AT THIS POINT IN TIME, ALL NIGERIANS SHOULD WISEN UP, BEGIN TO SET UP ASSETS because am in doubt if our govt is on the ride direction,and in order to avoid being a victim of the economic crash.. For our YOUTHS, entrepreneurship is the way forward, start a business TODAY. LEARN SOMETHING, DO SOMETHING AND SELL SOMETHING. |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Nobody: 2:24pm On Dec 27, 2015 |
so crude oil don turn purewater now! interesting, e remain make 9ja dey hawk am for oyinbo peepul street |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Nobody: 2:37pm On Dec 27, 2015 |
roughdiamond:why dont you give them a good advice....or you are clueless |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by Nobody: 2:39pm On Dec 27, 2015 |
EternalTruths:when the senators are still batling to make it 40 |
Re: Crude Oil Price Could Fall To $20 In 2016 – IMF by adelujohn(m): 3:36pm On Dec 27, 2015 |
It's high tilme we started diversifying... |
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