Global Crude Oil Prices Rises Above Budget Benchmark - Politics - Nairaland
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| Global Crude Oil Prices Rises Above Budget Benchmark by Nobody: 6:50pm On Mar 07, 2016 |
Global crude oil prices on Monday traded above $39 per barrels surpassing Nigeria’s budgetary benchmark of $38 per barrel. The global oil benchmark rose an all-year high at $39.50 on Monday, from $27.10 on January 20, the lowest for Brent in 2016. As at Friday, Nigeria’s bonny light, which is the third most expensive oil in the Organisation of Petroleum Exporting Countries (OPEC) basket, traded at a record high of $35.76 per barrel. The Monday price of Nigeria’s crude has not been quoted by the Central Bank of Nigeria (CBN), but sources say the price may surge to the budget benchmark region of $38. Brent crude opened 2016 at a high of $38.99 on January 4, 2016, though it traded at $36.77 on the same day, and closed the month around $35 per barrel. It opened February at $34.24and closed at $35.97. OPEC secretariat figures released on Monday show that the daily basket price stood at $32.34 a barrel Friday, March 4 2016, compared with $31.61 the previous day. Nigeria’s 2016 budget was benchmarked at $38 per barrel against major criticism across the nation, following December 2015 prices of about $34 per barrel. http://nigeriantimes.ng/news/global-crude-oil-prices-rises-above-budget-benchmark/ 11 Likes 1 Share |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by maverickdude(m): 6:51pm On Mar 07, 2016 |
Nice 1 Like |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by jejemanito: 6:54pm On Mar 07, 2016 |
$39? mtchew 2 Likes |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by Owoplenty(m): 6:55pm On Mar 07, 2016 |
Is this a good news? 2 Likes |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by amaechi1: 6:58pm On Mar 07, 2016 |
Those who are calling for the head of Mr President and his team for visiting the gulf nations should cover the faces in shame. You don't sit at home and play international politics. Life is in phase and nothing last for ever. Nigerians, can we cement our differences and work for the progress of this project "the well being of every Nigerian". God bless Nigeria. 240 Likes 13 Shares |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by PassingShot(m): 6:58pm On Mar 07, 2016 |
Good news for the govt and patriotic citizens. Bad news for PDP, wailers and IPOD touts who wish the govt failure. I predicted this rise in crude price on many occasions. 126 Likes 8 Shares |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by Standing5(m): 7:01pm On Mar 07, 2016 |
With this news and the hot weather i wonder how wailers will sleep tonight . . . 108 Likes 6 Shares |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by abiolert(m): 7:18pm On Mar 07, 2016 |
Dollar should keep on increasing so that Pmb can continue and fulfil His Electioneering campaign promises. 4 Likes |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by Stalwert: 7:19pm On Mar 07, 2016 |
God is with Nigeria and he will grant us the upper hand against ipob witches and pdp e rodents who wish day and night that we fall all because we asked for CHANGE 62 Likes 2 Shares |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by AnodaIT(m): 7:26pm On Mar 07, 2016 |
I'm so relieved, after killings in Benue, Mile 12, Al Jazeera embarrassing interview, padded budget etc, the zombies will have something good to sleep with. Even though it doesn't in any way affect the general living directly, but since they survive by figures in the news, it would do, at least for today 66 Likes 6 Shares |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by omenka(m): 7:29pm On Mar 07, 2016 |
Not sure I wanna celebrate this news. Much as I want sufficient inflow of forex for the country, I desire to see it come in through any other means than crude oil sales. Our dependence on that substance is what's put us in the mess we find ourselves today. As long as the price keeps going up, our government might not see the need to drastically push towards diversification. 37 Likes 1 Share |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by NavierStokes(m): 7:32pm On Mar 07, 2016 |
PassingShot: There are no fundamentals to back this rise in prices, so we should be expecting a fall soonest. There will be a rise in prices surely, but this is not it. The world is still producing between 1 and 2 million bbls of excess crude a day. The storage at Cushing is already over 90% capacity and combined with that in the east, a whopping 88% of capacity, plus production declining at a sub-anticipated rate. 17 Likes 1 Share |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by hungryboy(m): 7:35pm On Mar 07, 2016 |
PassingShot:Oga e be like say you dey live for another Nigeria oh, no be dis same one were we dey, wetin be good news for Nigerians for inside dis tori?. Dollar price still dey 300 naira plus, Rice still dey 70naira per cup, even garri still dey sell 5 cup for 100naira, To support Buhari, no mean say you go become zombie oh, when you see truth, talk am 35 Likes 5 Shares |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by tuniski: 7:39pm On Mar 07, 2016 |
PassingShot:Delusional! No nigerian wishes nigeria bad. Buharists are no more patriotic than those who don't believe in buhari, it is called democracy not a test of patriotism! 44 Likes 11 Shares |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by modath(f): 7:45pm On Mar 07, 2016 |
Mixed feeling... Wriggle room for reprieve & diversification of this blasted monolithic economy Apprehension that the past inertia will creep in & everyone will go back to status quo... #fingerscrossed 5 Likes 1 Share |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by Sunky200: 8:22pm On Mar 07, 2016 |
i know things will eventually work out well.
i trust my living God. Nigeria will be great again
God bless Nigeria 6 Likes 1 Share |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by DauraDullardo(m): 8:25pm On Mar 07, 2016 |
Tunami:He escaped to Ibadam. Alot of them have been sneaking back into town since morning. 3 Likes |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by Mrbigman1(m): 11:46pm On Mar 07, 2016 |
NEW YORK, March 7 (Reuters) - Global oil markets jumped more than 5 percent on Monday, with Brent hitting a 2016 peak above $40 a barrel, after Ecuador said it was holding a meeting of Latin American crude producers as OPEC sought a higher anchor price for oil. |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by GreatEngineer(m): 11:54pm On Mar 07, 2016 |
amaechi1:So buhari is the one that makes the oil price to go up, Some people self. So he has fulfil one of his campaign promise - to stabilise global oil price. 27 Likes 1 Share |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by Ratello: 11:58pm On Mar 07, 2016 |
Until sanity is restored in all spheres of government then I can start applauding this government whether dollar is at par with naira or oil is selling for $150 e no konsign me  1 Like |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by flyingdragon: 11:58pm On Mar 07, 2016 |
In some way, Buhari deserves credit on this. 3 Likes |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by Phame: 11:58pm On Mar 07, 2016 |
Buhari is working to stabilize oil price as promised. Wailers, shame on you! 5 Likes |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by americanigga(m): 12:13am On Mar 08, 2016 |
Buhari is too powerful. Do you know that other presidents including American president are afraid of him? Just one calculated move to Qatar he has increase the price of crude in the whole Universe 2 Likes |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by Aufbauh(m): 12:28am On Mar 08, 2016 |
I dey Saudi deh watch the IPOBians through 2D with 4G so that i can be able to see them well on 3D.  Bunch of pathetic wailers how market  1 Like |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by diegwu01: 6:13am On Mar 08, 2016 |
The wailers, Ipobians and those you daily pray for evil and Nigeria to fail just because Buhari won the Elections, would not be happy with this news 6 Likes |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by Babacele: 6:47am On Mar 08, 2016 |
modath:not after this baptism of financial fire! 1 Like |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by 100Cents: 7:01am On Mar 08, 2016 |
Until $1 equals N1. Till then.. |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by RichYoungNigga: 7:11am On Mar 08, 2016 |
Do you know why Nigerians are very ignorant ?? Oil just gained $2 and they are here celebrating. Who go buy the oil ?? How was the economy when oil was selling for $140 ?? It now sells for $38 and you're here celebrating. 12 Likes |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by RichYoungNigga: 7:11am On Mar 08, 2016 |
PassingShot: I'm sick and tired of you niggas calling IPOB all the goddam time. I guess you ain't concerned with the economy of your country, after you go dey call the government say them no provide work for you. We were told that we are the leaders of tomorrow. I now know the reason why a 79 year old man is the president of Nigeria, the so called leaders of tomorrow are busy calling wasting their time on Instagram, Facebook and Nairaland while the old men are ruling their country and stealing billions of dollars. 9 Likes 1 Share |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by martineinstein(m): 7:11am On Mar 08, 2016 |
And they call him 'waka-waka' president.. His Odysseus voyage is taking effect 2 Likes |
| Re: Global Crude Oil Prices Rises Above Budget Benchmark by yomalex(m): 7:12am On Mar 08, 2016 |
We need it at $60 4 Likes |
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