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Nairaland Forum / Nairaland / General / Business / Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears (16104 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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Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by DAVE5(m): 10:37am On Mar 09, 2020 |
sulaak: Cancel which loan, money that has been shared already Persons to benefit from the loan have submitted their numerous fraud alert account details already, i'm guessing you're not going to get a cut from the loan, I won't either |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by arsenal33: 10:44am On Mar 09, 2020 |
SenecaTheYonger:good for US economy? Watch their stock market fall today |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by DAVE5(m): 10:45am On Mar 09, 2020 |
Sunnycliff: And you think Nigeria hasn't been sold off already, you and I were never in the sharing formula Las Las we go learn by force, very soon we would start doing the right thing, which is, burn those polythievescians alive |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by ENIGMATIC2023(m): 10:54am On Mar 09, 2020 |
CXLVII: You are right...Our youths are brain dead |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by SenecaTheYonger: 10:57am On Mar 09, 2020 |
CanadaOrBust: Lol, this just keeps getting better. At around 2016, most new source lost credibility. |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by DAVE5(m): 10:58am On Mar 09, 2020 |
georgeiyke009: Oga, cut which government spending ohh, remember bubu or one other person was saying some days back that they're working hard so their money needs to be increased Bubu needs to fly around more, his daughter still has plenty projects for her school so we need to fuel the presidential fleet so her trips would be not as stressful as the last trip she went on Then instead of brand new Toyotas and benzes they buy for official duties, they need rolls royces (phantoms and cullinans) to portray them in the good light more and reward them for their hard work in running the affairs of the country 1 Like |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by SenecaTheYonger: 10:59am On Mar 09, 2020 |
arsenal33: The only thing that will affect their stocks is coronavirus because they heavily trade with China who has been hit and forced to lockdown. |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by SenecaTheYonger: 10:59am On Mar 09, 2020 |
Unlimited22: Yes. But what do you understand by an oil-based economy? |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by SenecaTheYonger: 11:00am On Mar 09, 2020 |
CanadaOrBust: You know that Russia is one of the top oil-dependant economies in the world, why would they shoot themselves in the foot? |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by Excellent7(m): 11:03am On Mar 09, 2020 |
RapistOnBail: And where is the peace or the harmony under this regime? |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by sulaak(m): 11:10am On Mar 09, 2020 |
DAVE5:Cheif the loans have only been agreed, it remains for the government to request the loans from the lending organisation and I can bet no agency will be approving any loan to Nigeria with oil selling at $30 per barrel. 1 Like |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by DAVE5(m): 11:12am On Mar 09, 2020 |
sulaak: Trust our government to get the loans either by hook or crook, then the sharing would commence The sharing formula can not be omitted ohh |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by CanadaOrBust: 11:17am On Mar 09, 2020 |
SenecaTheYonger: Well
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Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by sulaak(m): 11:19am On Mar 09, 2020 |
angelfallz: You are already suffering, do you actually think you benefit from the oil export. The government has refused to function because of the sharing of oil wealth. Why should someone living in Lagos or Kano be interested in the oil export price? The country will now be forced to diversify or die. Necessity is the mother of invention: When the need for something becomes essential, you are forced to find ways of getting or achieving it. 2 Likes |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by olasco2035: 11:31am On Mar 09, 2020 |
Timileyin1234: Ok thankx bro |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by deleo16(m): 11:48am On Mar 09, 2020 |
RapistOnBail:To be honest with yourself which Nigeria govt have done well with what u listed above. Govt job is to regulate and drive fiscal policy to stimulate economic growth and development while the citizen job is to fit into different sector (formal and informal to make ends meet to cater for daily food and shelter either jobs or business. Nigeria govt over the years have failed on that line the infrastructural deficit alone can't be fix in 5yrs ease of doing business here Na die , mulitple taxes left right and centre ,power is another issue how can a country grow without power due to decades of neglect in that sector |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by peeps4u: 11:50am On Mar 09, 2020 |
RapistOnBail: So, this is what you have to come up with after your argument of govt providing peace and security was rubbished? SMH 1 Like |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by peeps4u: 11:51am On Mar 09, 2020 |
SenecaTheYonger: That guy's argument and thinking is pathetic. |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by peeps4u: 11:56am On Mar 09, 2020 |
CanadaOrBust: LOL. If low oil price will send US to recession, then Nigeria will cease to exist before then. |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by djon78(m): 12:12pm On Mar 09, 2020 |
CanadaOrBust: You are right. Saudi Arabia and Russia are doing the pricing war and increase in oil production to knock down oil prices and hit hard at US fracking/shale. US shale has made US the highest oil producer. But the cost of producing Shale oil is higher than OPEC oil. Oil prices has to be high for it to be lucrative. So what Russia and the Saudis are doing is drive down prices. US shale will be driven out of business. Before they recover it will take another 3 to 4 years. |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by Nobody: 12:44pm On Mar 09, 2020 |
CanadaOrBust: What happened in the U.S economy wen the price of crude oil fell to 26 dollar or barrel? |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by IJEYdiamond(f): 1:01pm On Mar 09, 2020 |
$33... Instead of the law makers to think outside the box... they are having meeting to amend or abi restrict information on the internet... Hand never touch una yet.... Dont you worry!!.. |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by Unlimited22: 2:14pm On Mar 09, 2020 |
SenecaTheYonger:I know that the fall shouldn't be enough to drive the US economy into a recession, bit suggesting that they'll welcome it is frankly absurd. |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by SenecaTheYonger: 2:15pm On Mar 09, 2020 |
Unlimited22: Agreed |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by Nobody: 3:32pm On Mar 09, 2020 |
0m0nnakoda: I will go into forex soon, let me start hoarding the dollar ![]() ![]() |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by plaetton: 3:53pm On Mar 09, 2020 |
Ausrichie: Don"t mind the fools. We even have one dimwit here , Rossinnki, even celebrating and bragging about who should not get a piece of the foreign loan. Can you just imagine ? ![]() ![]() A fool, obviously suffering from acute stockholm's syndrome, celebrating and bragging about the debt enslavement of himself and his generations of children. |
Re: Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears by grandstar(m): 4:54pm On Mar 09, 2020 |
RapistOnBail: So Nigerians are asking to be spoonfed? Lending rate is 25%, power supply is epileptic, Apapa ports are a nightmare for importers, the government has shut the borders, more goods are being banned and you say Nigerians are expecting to be spoonfed? People are trying to find one means or the other to survive such as Okada's and tuktuks and government's are banning them left right and center. The economy is barely growing 2% per Annum. No matter how hard Nigerians try, the forces against progress even with their best efforts is challenging. Nigerians aren't asking to be spoonfed. On the contrary, they ask for too little but this government policy is always putting them down. Look at car importation. A once thriving sector and government slams a 70% import duty on it. They have now turned many into smugglers. 3 Likes 3 Shares |
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