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Nairaland Forum / Nairaland / General / Business / Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears (16101 Views)
Oil Prices Soar As OPEC+ Prepares To Cut Supplies / Oil Price Jumps As OPEC Keeps Output Steady, Hits Four year High / Oil Prices Fall As OPEC Plans To End Cuts – Oilprice Intelligence Report (2) (3) (4)
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Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by Kei144(m): 1:12am On Mar 09, 2020 |
Oil prices plunged 30% in early trading after OPEC’s failure to strike a deal with its allies regarding production cuts caused Saudi Arabia to slash its prices as it reportedly gets set to ramp up production, leading to fears of an all-out price war.https://www.cnbc.com/2020/03/08/oil-plummets-30percent-as-opec-deal-failure-sparks-price-war-fears.html 2 Likes 1 Share
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Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by CXLVII: 4:10am On Mar 09, 2020 |
Informative threads like this will hardly grace front page. Just add snake or Regina Daniels to the story and swiftly it will race to front page. This forum is years behind Quora. 72 Likes 6 Shares |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by sholatech(m): 4:58am On Mar 09, 2020 |
Well, Nigeria Government will save billions in oil subsidy funds. However, our foreign reserves will be adversely affected. 11 Likes |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by KIDfurniture(m): 6:59am On Mar 09, 2020 |
Ok ohhh |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by Lilswaggs: 6:59am On Mar 09, 2020 |
God help us oooh 1 Like |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by hisgrace090: 7:00am On Mar 09, 2020 |
Uniting factor of Nigeria plumetting. Falls one Nigeria believers will hate this news more than those that have the oil itself. 12 Likes |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by iCauseTrouble: 7:00am On Mar 09, 2020 |
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Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by PureGoldh(m): 7:00am On Mar 09, 2020 |
Issoryt...Other countries will benefit from this dx but Nigeria have bad eggs on top...they will just swindle everything into their wn purse |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by SenecaTheYonger: 7:02am On Mar 09, 2020 |
Oil price fall is good for the US economy but bad for countries like Nigeria whose economy runs on oil export. 29 Likes 2 Shares |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by CtrlA(m): 7:03am On Mar 09, 2020 |
First page ![]() 1 Like 1 Share |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by ednut1(m): 7:03am On Mar 09, 2020 |
Devaluation, recession and hardship loading 20 Likes 2 Shares |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by Sunnycliff(m): 7:03am On Mar 09, 2020 |
Nigeria is in deep poo. We are yet to start borrowing because oil is less than $35 a barrel now. Coronavirus fears and these political tensions of Russia has left so much pain in the oil market. Fuel pump price should come down to #100 because the price of crude is down. Our government should stop milking us dry. 27 Likes |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by Stallion93(m): 7:05am On Mar 09, 2020 |
Venezuela in Nigeria Loading 4 Likes |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by teamsynergy: 7:05am On Mar 09, 2020 |
This is not a good news for our oil dependent economy 2 Likes |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by millhouse: 7:06am On Mar 09, 2020 |
CXLVII: ![]() |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by idonhammer: 7:07am On Mar 09, 2020 |
Good news,now fuel will go for 60 naira per a litre 3 Likes |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by Enyimbamercedes: 7:07am On Mar 09, 2020 |
Remind me again what our benchmark for 2020 budget is? $57 per barrel ? So we are running a deficit budget . Issokay 28 Likes 2 Shares |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by horsepower102: 7:07am On Mar 09, 2020 |
Great news It will even go down more. Soon NNPC will be as useless as NITEL. Everyone should go and develop their land with their hard work instead of waiting for oil revenue stolen from other people’s land. 21 Likes 2 Shares |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by anonimi: 7:08am On Mar 09, 2020 |
sholatech: The people will also save a lot of money from reduced fuel price with our progressive leaders of integrity in government instead of those bloody PDP rogues led by Jonathan ![]() ![]() stephenduru: www.nairaland.com/attachments/6440050_dregaeuxcaaxmzn_jpegbc221e09788124eef1ab789b91afa35e 11 Likes 1 Share |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by Nobody: 7:08am On Mar 09, 2020 |
CXLVII: ![]() ![]() |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by fiercehillz(m): 7:09am On Mar 09, 2020 |
Buhari will stabilize the world oil price ![]() ![]() ![]() 6 Likes |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by CanadaOrBust: 7:09am On Mar 09, 2020 |
CXLVII: Well, now that it is on FP can u now apologize to us mods |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by OakConsultNG: 7:09am On Mar 09, 2020 |
Interesting times.... Lessons for Nigeria Obtain your TIN. Register your Business, Church and Company with the CAC at discounted prices. Check our signature and page for more details. Offer lasts for a limited period only. |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by Sunnycliff(m): 7:11am On Mar 09, 2020 |
sholatech: If only our government is sincere but our budget for this year with an oil benchmark price of over $50/barrel will definitely make our budget run in deficit. 1 Like |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by Sunnycliff(m): 7:12am On Mar 09, 2020 |
idonhammer: Not with this APC government of lies and deciet 10 Likes |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by Nobody: 7:12am On Mar 09, 2020 |
Abeg business intellectuals what does this mean. Na only science stuff I sabi well well. 3 Likes |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by CanadaOrBust: 7:12am On Mar 09, 2020 |
SenecaTheYonger: Ignorance. It is VERY BAD for US economy. US is by far the world’s greatest producer of oil. In fact there are speculations they did this partly to hurt US economy 3 Likes |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by Sunnycliff(m): 7:13am On Mar 09, 2020 |
anonimi: Can Fashola say that again? 11 Likes 1 Share |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by 4Play(m): 7:13am On Mar 09, 2020 |
If this is sustained, it is likely to prove devastating for Nigeria. For one thing, the forex scarcity we experienced in 2015 to 2017 is about to reemerge with the CBN eventually going to devalue the Naira. Unlike in 2015, the FG has a much higher stock of foreign debt it needs to service with dollars. We need to brace ourselves for even more economic hardship. 14 Likes 4 Shares |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by SenecaTheYonger: 7:14am On Mar 09, 2020 |
CanadaOrBust: On your path? |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by Sunnycliff(m): 7:14am On Mar 09, 2020 |
Ausrichie: It means we are in deep poo in our economy because our budget is funded by 50+% of oil revenue. Our government will have to borrow more in addition to the over #1trn debts we are owing. 5 Likes 1 Share |
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