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Nigeria Joins OPEC To Cut Crude Oil Production - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Nigeria Joins OPEC To Cut Crude Oil Production (21324 Views)

Nigeria Joins Somalia, Others On List Of Hunger Hotspots~UN Report / Nigeria Agrees To Cut Crude Production For Global Oil Market Stability. / Buhari Reacts To Niger Delta Avengers’ Threat To Shutdown Oil Production (2) (3) (4)

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Re: Nigeria Joins OPEC To Cut Crude Oil Production by Shindara91: 4:12pm On Apr 10, 2020
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Re: Nigeria Joins OPEC To Cut Crude Oil Production by jadeliyi(m): 4:15pm On Apr 10, 2020
fjjc:
I have been hearing this huge amount of money about crude oil since my childhood, but its translate to nothing as far as I am concerned.
try to own oil well(s) in the nearest future then you will understand.
Re: Nigeria Joins OPEC To Cut Crude Oil Production by Commanderinpips: 4:20pm On Apr 10, 2020
Kylekent59:
shocked

Those days in school(as a pupil), when it comes to current affairs, if you don't know the meaning of the acronomy OPEC, Mr. Jimaco go flog ya bumbum.

Let them cut,but let it be also known that we need customers, because if we don't step up our games, recession is patiently waiting on us.

Bros recession don enter already.
Re: Nigeria Joins OPEC To Cut Crude Oil Production by PHijo(m): 4:23pm On Apr 10, 2020
Yenefer:
Nigeria oil that is going to dry out within 4 years.

Just now El rufai met with Osibanjo. The red caps is for his haters,.. while the blue is for his suppoters

Probably Nigerian 'oil'( whatever that may be), not Niger Delta oil.
Re: Nigeria Joins OPEC To Cut Crude Oil Production by Nobody: 4:41pm On Apr 10, 2020
.

1 Like

Re: Nigeria Joins OPEC To Cut Crude Oil Production by EdiskyHarry: 4:49pm On Apr 10, 2020
When will my region, "Niger delta" have sense? The whole vegetation of Niger delta has been destroyed as a result of oil activities everyday. What has Niger delta benefited from this crude oil, is this oil money only meant for enriching the northern part of Nigeria on the pretext of fighting Boko Haram?
Re: Nigeria Joins OPEC To Cut Crude Oil Production by wink2015(m): 4:55pm On Apr 10, 2020
Go and face Agriculture.
Re: Nigeria Joins OPEC To Cut Crude Oil Production by israelmao(m): 5:19pm On Apr 10, 2020
If supply is cut down then demand is likely to increase giving rise to price.
Re: Nigeria Joins OPEC To Cut Crude Oil Production by Gilgil: 5:19pm On Apr 10, 2020
Production doesn't mean anything if you cannot sell it all.

Using this crisis, Saudi Arabia has increased their global market share and consolidated with Premium customers.

The present and future growth in oil demand is in Asia and Logistics+ economics do not favour Nigerian oil in that direction.

Most of Nigeria's former oil customers are now her competition.e.g US

Other African countries who were not in the oil and gas game before have joined as competitors e.g. Ghana, Senegal, Congo, Mozambique, Kenya, Uganda, Equatorial Guinea, South Africa, South Sudan, Egypt etc. thereby shredding Nigerian market share.

Poor investment in exploration arising from policy laziness e.g. PIB footdragging has left Nigeria with falling proven reserves and you cannot ingest in exploration during an oil price crash.

Ease of doing business in Nigeria and real oil profitability versus other countries is very poor and oil investors want to put their money in more profitable ventures? E.g. Exxon Mobil would be thinking for every barrel, what's the profit in Nigeria versus Guyana versus other countries.

So in essence, we may produce 1.5 MMBOPD and sell 1MMBOPD, that revenue won't be met; barring discounts oh.
Re: Nigeria Joins OPEC To Cut Crude Oil Production by kumulus(m): 5:30pm On Apr 10, 2020
guru90:
Soon or Later.... Fuel price gonna be 50 naira per litre...


Sooner it'll be...sooner.

-Lloyd
Re: Nigeria Joins OPEC To Cut Crude Oil Production by Nairalandmonika: 6:10pm On Apr 10, 2020
being:
What even makes the minister think crude price will increase to $40 because of the production cuts
Is not the minister, it's what opec counties decide to do.
It's simple economic, reduce in supply means increase in demand, increase in demand means increase in price
Re: Nigeria Joins OPEC To Cut Crude Oil Production by kumulus(m): 6:32pm On Apr 10, 2020
Shindara91:
《《《SECURE DIGITAL PLATFORM 》》》

Invest minimum of $20 (~ NGN 7,200) in for€x investments, precious metals , cryptocurrenci£s like bitcoins , ethereum etc and get up to 10 % everyday for 20 DAYS. You can start making up to ₦10,000 daily

Register Now: W W W. D I G I S A F E. P R O
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This is completely a side income program where you focus on your day to day activities while earning money on the side.
E.g: Invest N10,000 and get up to N1,000 everyday.
This platform is very legitimate.


We are aware the forex market is very volatile and returns depends on various factors, some beyond our control. So we have several cushion effect in place to ensure security of invested funds.



BANK TRANSFER, BITCOIN AND ETHEREUM ACCEPTED.


Register Now: W W W. D I G I S A F E. P R O
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You can WhatsApp < 0 8 0 7 2 9 8 1 5 2 8 > for more details.


Investment of $20 (#7200)

10% of #7,200 = #720

For 20days; 720 * 20 = #14,400


If investment capital of $20 (#7,200) returns #14,400 in 20days, how many days will it take for same investment to return #10,000?
Re: Nigeria Joins OPEC To Cut Crude Oil Production by kumulus(m): 6:33pm On Apr 10, 2020
Nairalandmonika:

Is not the minister, it's what opec counties decide to do.
It's simple economic, reduce in supply means increase in demand, increase in demand means increase in price


OPEC decisions only provide volatility in most cases and not necessarily give direction.

Re: Nigeria Joins OPEC To Cut Crude Oil Production by sulaak(m): 8:00pm On Apr 10, 2020
EdiskyHarry:
When will my region, "Niger delta" have sense? The whole vegetation of Niger delta has been destroyed as a result of oil activities everyday. What has Niger delta benefited from this crude oil, is this oil money only meant for enriching the northern part of Nigeria on the pretext of fighting Boko Haram?

Your benefits are the corrupt politicians and collaborators such as Rotimi, GEJ, Akpabio and many more.
Re: Nigeria Joins OPEC To Cut Crude Oil Production by ikezudon(m): 5:44am On Apr 11, 2020
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