Stats: 3,191,121 members, 7,943,057 topics. Date: Sunday, 08 September 2024 at 12:45 AM |
Nairaland Forum / Nairaland / General / Business / Crude Oil Gains As OPEC Plans To Extend Production Cuts (4926 Views)
U.S Oil Gains For The 9th Consecutive Week / Oil Prices Soar As OPEC+ Prepares To Cut Supplies / Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears (2) (3) (4)
Crude Oil Gains As OPEC Plans To Extend Production Cuts by Truth234(m): 6:45am On Oct 25, 2017 |
Global oil prices gain on Tuesday following the news of OPEC planning to extend production cuts and work on a viable exit strategy. Brent crude oil gained 0.52 percent to $57.57 a barrel at 03:03 p.m. Nigerian time. While the West Texas Intermediate oil rose 0.77 percent to $52.30 a barrel, up from 38 cents. In the past, traders have criticized the cartel for not having an exit strategy for its aggressive production cuts. Rather, hoping global demand would increase in the long run and eventually absorb supplies. “The market will probably take it positively if OPEC can explain their thinking on how it works when they’re not voluntarily holding back oil from the market anymore,” said Torbjorn Kjus, an analyst at DNB Markets. “There’s a fear in the market that when the deal runs out, then it’s every man for himself again, and that’s not what they’re thinking.” Last week, OPEC Secretary-General Mohammad Barkindo said balanced oil market is in sight and that production cuts have reduced half the oil-inventory surplus. “A balanced oil market is now fully in sight,” Barkindo said at the Oil & Money conference in London on Thursday. “Stability is steadily returning and there is far more light at the end of the dark tunnel we have been traveling down for the past three years.” U.S. inventories dropped by 3 million barrels last week, making it a fifth consecutive decline, according to a survey published by Bloomberg before government data due Wednesday. “The oil inventory surplus in industrialized nations compared with the five-year average has fallen below 160 million barrels, less than half the level at the start of the year, he said. Stronger demand means that decline has accelerated since May,” Barkindo said. http://investorsking.com/crude-oil-gains-opec-plans-extend-production-cuts/ |
Re: Crude Oil Gains As OPEC Plans To Extend Production Cuts by Fxmanager(m): 7:13am On Oct 25, 2017 |
Okay |
Re: Crude Oil Gains As OPEC Plans To Extend Production Cuts by nony43(m): 7:24am On Oct 25, 2017 |
B |
Re: Crude Oil Gains As OPEC Plans To Extend Production Cuts by saraki2019(m): 7:25am On Oct 25, 2017 |
crude oil is just 57 dollars insteads of $150 during pdp time our foreign reserve is below 40 billion dollars instea of over 70 billion dollars in pdp time and pdp did not change nigeria to fisrt world FOR 0VER 16 YEARS but they want baba to do mircle they squandered everthing AND SOME NIGEGERIAN WANT BABA TO DO MIRACLE NOW some nigerians are hypocrites 9 Likes |
Re: Crude Oil Gains As OPEC Plans To Extend Production Cuts by Lordave: 7:26am On Oct 25, 2017 |
Now let's see what this useless government will do. 2 Likes |
Re: Crude Oil Gains As OPEC Plans To Extend Production Cuts by hezy4real01(m): 7:27am On Oct 25, 2017 |
Do we still have the crude oil sef.... They have stolen the good ones left us with black lol God have mercy on this great Nation |
Re: Crude Oil Gains As OPEC Plans To Extend Production Cuts by Nobody: 7:28am On Oct 25, 2017 |
Bad news for Nigeria, it would just make us more oil dependent. Manufacturing is the answer 2 Likes |
Re: Crude Oil Gains As OPEC Plans To Extend Production Cuts by Promismike(m): 7:28am On Oct 25, 2017 |
The only reason for one nigeria. The only reason why aboki shouts one naijeria. When will resource control be adopted. We need to know how hard working and industrious the abokis who have enriched themselves dubiously from Niger delta oil are. 1 Like 1 Share |
Re: Crude Oil Gains As OPEC Plans To Extend Production Cuts by GREATESTPIANIST: 7:31am On Oct 25, 2017 |
Olore ofe.....e leru ni yii o....Olorun agbaye.....mo gbe o ga.......... #playing the piano# |
Re: Crude Oil Gains As OPEC Plans To Extend Production Cuts by ToluSuo(m): 7:35am On Oct 25, 2017 |
More problem |
Re: Crude Oil Gains As OPEC Plans To Extend Production Cuts by wildchild02: 7:36am On Oct 25, 2017 |
Good news for our economy Check my signature to order your football jerseys and get it customized FREE OF CHARGE! |
Re: Crude Oil Gains As OPEC Plans To Extend Production Cuts by iamrammy(m): 7:36am On Oct 25, 2017 |
more money for polithiefians |
Re: Crude Oil Gains As OPEC Plans To Extend Production Cuts by Nackzy: 7:36am On Oct 25, 2017 |
I wonder what that dullard will say this tym |
Re: Crude Oil Gains As OPEC Plans To Extend Production Cuts by zaragoza(m): 7:44am On Oct 25, 2017 |
saraki2019: U are now in charge, whatever that is happening now is happening under ur watch and dats all history wld remember. So u guys shld stop blaming the past govts and get down to work. Many countries don't even receive the $57×1.8 million barrels per day and yet they are doing better than u. U shld be pointing out to us what u have achieved with the money u have received instead of always blaming the past govt. 3 Likes 1 Share |
Re: Crude Oil Gains As OPEC Plans To Extend Production Cuts by dokunbam(m): 7:52am On Oct 25, 2017 |
saraki2019: |
Re: Crude Oil Gains As OPEC Plans To Extend Production Cuts by showreals(m): 7:55am On Oct 25, 2017 |
zaragoza: one of the reasons i dont come to Nairaland as often again, how can someone still be blaming past govt after 3 years of no visible impact, let this govt choose a struggle, lets know this govt for something, why not just pick power and make it better, or pick Roads and do a fantastic job. money is not our problem. Our problems are people who have no idea how to manage a small class are managing a country |
Re: Crude Oil Gains As OPEC Plans To Extend Production Cuts by musa234(m): 8:25am On Oct 25, 2017 |
saraki2019:This excuse has become stale, did the price of oil stop the release of 2016/2017 budget? What do they have to show to the populace, I voted this government but they are corrupt just like pdp and also incompetency runs in their blood. The oil price didn't stop the corruption and cluelessness of this government I campaigned so much for. |
(1) (Reply)
Make More Than 65$ In A Week Answering Survey / Come In If You Are Interested In Yam Business / How To Create A Usa Paypal Account That Can Never Be Blocked By Paypal For Free
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 21 |