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Nairaland Forum / Nairaland / General / Business / Oil Prices Soar To $58 On Global Output Cut Deal (14199 Views)
Oil Prices Soar As OPEC+ Prepares To Cut Supplies / Oil Prices Soar After Iran Attacks Airbases Housing US Troops In Iraq - CNN / OPEC Extends Nigeria’s Exemption From Oil Output Cut (2) (3) (4)
Oil Prices Soar To $58 On Global Output Cut Deal by ourema(f): 1:45pm On Dec 12, 2016 |
Oil prices shot up over four per cent to their highest level since 2015 early on Monday after OPEC and other producers over the weekend in Vienna reached first output cut deal since 2001 . They jointly reduced output in order to rein in oversupply and prop up the market. Brent sweet crude futures, the international benchmark for oil prices, soared to 57.89 dollars per barrel in overnight trading between Sunday and Monday, its highest level since July 2015. U.S. West Texas Intermediate crude futures also hit a July 2015 high of 54.51 dollars a barrel. With the deal finally signed after a year,the market’s focus will now switch to compliance with the agreement. ANZ bank said that Saudi Aramco, Saudi Arabia’s state-controlled oil company, had informed customers that their allocations would be reduced in January 2017, in line with the recent OPEC production cut agreement.” OPEC has said it will slash output by 1.2 million barrels per day from Jan. 1, with top exporter Saudi Arabia cutting around 486,000 bpd in a bid to end overproduction . Oversupply has dogged markets for over two years and pushed the economies of many oil exporting countries into crisis. On Saturday, producers from outside the 13- country OPEC group agreed to reduce output by 558,000 bpd, short of the initial target of 600,000 bpd . http://punchng.com/oil-prices-soar-58-global-output-cut-deal/ 3 Likes
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Re: Oil Prices Soar To $58 On Global Output Cut Deal by ourema(f): 1:47pm On Dec 12, 2016 |
Not a good news for celebration. It will only benefit thieves 30 Likes |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by ourema(f): 1:50pm On Dec 12, 2016 |
ourema: 6 Likes |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by fratermathy(m): 1:52pm On Dec 12, 2016 |
Some good news at last. But to be honest sha, 4 Likes |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by veekid(m): 1:53pm On Dec 12, 2016 |
buhari is working #yeye 1 Like |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by Richie0974: 1:53pm On Dec 12, 2016 |
Oil price wey no fit defy gravity for two days, abeg very soon the price go come down again. 4 Likes |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by googlepikins: 1:53pm On Dec 12, 2016 |
Even if it's $200/barrel. As long as Buhari remain the president, we will make sure he will never use our oil for this devilish régime. Proudly 5% . If you have any explanation keep it to yourself, we don't want to hear. 25 Likes |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by Nobody: 1:53pm On Dec 12, 2016 |
Are we still talking about oil? Nigeria isn't serious yet until we have a manufacturing economy. 8 Likes |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by Mujaheeeden: 1:53pm On Dec 12, 2016 |
Buhari will surely stabilize Oil price 14 Likes 1 Share
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Re: Oil Prices Soar To $58 On Global Output Cut Deal by 4nobody4every1: 1:53pm On Dec 12, 2016 |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by Nobody: 1:54pm On Dec 12, 2016 |
This will soon expose the obvious incompetence of some people that have been hiding under low oil price 38 Likes 3 Shares |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by Rilwayne001: 1:54pm On Dec 12, 2016 |
We'll get there. |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by Mujaheeeden: 1:54pm On Dec 12, 2016 |
Finally Lagos can now export their two litre of oil 43 Likes 1 Share |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by Atiku2019: 1:54pm On Dec 12, 2016 |
But the current Government will complain and blame the previous Government even if it gets to $200 a barrel. Atiku 2019 13 Likes 1 Share
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Re: Oil Prices Soar To $58 On Global Output Cut Deal by purity22(f): 1:54pm On Dec 12, 2016 |
Hmmm we are watching |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by Faith111: 1:54pm On Dec 12, 2016 |
Good news for Nigerians. At least Buhari will not have an excuse any more. I bought goats from Buygoats and they were affordable and neat. You can reach them on 07055575224 if you are interested. They are close to Ajah. 2 Likes |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by Mujaheeeden: 1:55pm On Dec 12, 2016 |
Rilwayne001:We are there already buy the slowpoke is driving on reverse mode 2 Likes |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by eleojo23: 1:55pm On Dec 12, 2016 |
Oga Buhari, oya start working... |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by DonaldGenes(m): 1:56pm On Dec 12, 2016 |
Good news for us Absolutely, We moving forward to $70/barrel as Russia has also promised to cur supply in the next two weeks and hopefully Dollar Rate will trickle down to 240 From Next year.. I am sure about it 14 Likes 1 Share |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by Nobody: 1:57pm On Dec 12, 2016 |
1 Like |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by Atiku2019: 1:57pm On Dec 12, 2016 |
Lemme pull off my glasses to observe how Buhari's Gullible Zombies here will Blame GEJ over the current Recession Ravaging our Country . Atiku2019 5 Likes
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Re: Oil Prices Soar To $58 On Global Output Cut Deal by wellmax(m): 1:58pm On Dec 12, 2016 |
Good days arecoming back. With Bubu, it wont be straling as usual. Reserve increasing, now this, better days are coming. 3 Likes |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by NoMoreTrolling: 2:00pm On Dec 12, 2016 |
so I hope no more excuses from now and please fix the exchange rate 1 Like |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by atirolu(m): 2:00pm On Dec 12, 2016 |
Let them sell for 1000dpb Buhari can't tink to use it well 4 Likes |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by martineverest(m): 2:00pm On Dec 12, 2016 |
thanks to trump's election. Wailers arent smilling with dis news 1 Like |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by Corrinthians(m): 2:02pm On Dec 12, 2016 |
ourema: |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by FBS: 2:03pm On Dec 12, 2016 |
Temporary? |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by Philinho(m): 2:04pm On Dec 12, 2016 |
Anything that will make buhari n co,stop complaining n work,is welcome 1 Like |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by 9jaBloke: 2:05pm On Dec 12, 2016 |
Good news! There's also a forecast that prices will average $55 in 2017. FG shud change tactics in the Niger Delta. The military incursion is not going to work. We need to be producing at optimal capacity to benefit from the price stability. 8 Likes 1 Share |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by elampiro(m): 2:06pm On Dec 12, 2016 |
Good |
Re: Oil Prices Soar To $58 On Global Output Cut Deal by Firefire(m): 2:06pm On Dec 12, 2016 |
Very Good. We need to improve our current output. However, someone need to padlock Buhary's mouth before he mis-yarn again and the boys start bombing. 5% + 97%. 4 Likes |
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