J12:
Diezani was advocating for a cut in supply in order to create demand which was the main tactic always used by OPEC to stabilize prices. I doubt it would have worked like the strategy the Saudis are using to beat the shale producers.

ejikeme:
peeps do put up cool topics but some oaf from some unknown corner will show up and mess it up.

deskossy:
The Americans will just sit and wait for d price to go up....d oil is
still underground, e no dey spoil.they need d price of oil to be 80$ to break even...tthey will sit it out

blacksta:
I dont understand - if oil prices move upwards it automatically means shale drilling becomes profitable again - The whole point of the saudi scheme was kill off shale drilling by Lowering oil prices - Still doesnt favour most Nations like Nigeria, Iran or Venezuela ( This bunch rely on high oil prices)

wordcat:



No country can stop America from producing their oil. If the price of oil falls, dem go buy from us and if we wan intimidate them with price, dem go produce and sell cheaper than our own so d thing na win-win situation for them after al, dem no dey give am food for d place where d thing dey for ground.

Charpell:

American has always had their oil, they just wanted to make oil surplus, so the price will go down

Diezani was advocating for a cut in supply in order to create demand which was the main tactic always used by OPEC to stabilize prices. I doubt it would have worked like the strategy the Saudis are using to beat the shale producers.

ejiro2130:


It would have worked better than this strategy, the problem with what she was proposing is that the Saudis will lose market shares from to the US,i pity her when she and Venezuela leader was begging opec to cut production, what did they do with the extra billions made from high oil prices? ?

I don't think we will see oil price at 100 dollars anytime soon.

giantstrides:
The USA doesn't care that much about the low price of oil, if it gets too expected to slow down this year due to low oil prices. All this powerful countries are worrying to the US as they counter the US influence in their region, so the US is actuallly very comfortablle with the low price of oil, so much so that they are considering exporting their shale oil tech to other countries who have oil but can't explore it.

Charpell:

Trust me when I say it will rise.
The Americans are smart, they brought in shale oil to create the illusion that oil is surplus, their target is to crash oil prices

Keneking:
Where is Dieziani? Mrs OPEC president?

Charpell:

I thought shale oil is natural, what do you mean by tech

Charpell:

Trust me when I say it will rise.
The Americans are smart, they brought in shale oil to create the illusion that oil is surplus, their target is to crash oil prices