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Oil Prices Soar As OPEC+ Prepares To Cut Supplies - Business (2) - Nairaland

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Oil Plummets 30% As OPEC Deal Failure Sparks Price War Fears / 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 Prices Soar As OPEC+ Prepares To Cut Supplies by henrixx(m): 5:46pm On Apr 09, 2020
Yenefer:
Who is pushing thread to front pages this days in nairaland, 90% of the people who visit nairaland don't benefit from Oil. Wether Oil price is high or low..., Most people here don't rip the benefits
smh
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by MorataFC: 5:46pm On Apr 09, 2020
AroleOduduwa2:
Perfect timing, Buhari and his cohorts can now finish Nigeria for good.
smh
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by Alexanity(m): 5:46pm On Apr 09, 2020
This doesn't make any senses, cutting supply to stabilise price will just mean we have more oil at the reserve and oil gets more costly for consumers it dont make immediate impact to an oil dependent economy, if you sell 100 barrel at 100 dollars and sell 10 barrels at 100 dollars it is the same immediate revenue the only difference is that we dont get to waste our oil.

2 Likes

Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by GideonG(m): 5:46pm On Apr 09, 2020
Russia and Saudi oil power, well thanks for the rise in oil.

I will start mentorship on certain skills that is currently huge right now.

Fancy remote job as a software developer or Data scientists or Artificial Intelligence?

Acquire the right mentorship to get the required skills as the world is changing fast. Send me a dm

2 Likes

Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by Oshin56(m): 5:46pm On Apr 09, 2020
That's a good news especially for country that depend only on oil as source of income e.g Nigeria.
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by hustla(m): 5:46pm On Apr 09, 2020
Bambarino:
is it fair enough for naija?

Not yet.
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by jericco1(m): 5:47pm On Apr 09, 2020
Just like naira against dollar. It will go down 100 percent only to appreciate 30%. How convenient undecided
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by Okuda(m): 5:48pm On Apr 09, 2020
this is the only news that makes Buhari happy
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by smeag0l(m): 5:48pm On Apr 09, 2020
This is true except if the country decides to invest in infrastructureand social amenities. Theres nothing that concerns the price of oil with the way and kind of businesses we do in nigeria(with the exception of downstream petrol ,dieseland kerosene marketing). This is what I was explaining to some people in another thread yesterday. Our politicians just shout whenever the price is low because it means they have less to loot.
whytediamond:
Still has nothing to do with improved living condition of the poor family in Ajegunle or Zaria.

1 Like

Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by CodeTemplar: 5:48pm On Apr 09, 2020
Stalwert:


grin now post this without crying grin grin grin grin



He has but our foreign exchange source needs to be diversified.
Are you daft? What is the meaning of diversify forex source? economy is forex source already.

2 Likes

Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by Nobody: 5:48pm On Apr 09, 2020
GideonG:
Russia and Saudi oil power, well thanks for the rise in oil.

I will start mentorship on certain skills that is currently huge right now.

Fancy remote job as a software developer or Data scientists or Artificial Intelligence?

Acquire the right mentorship to get the required skills as the world is changing fast. Send me a dm
whytediamond:
Still has nothing to do with improved living condition of the poor family in Ajegunle or Zaria.
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by Nobody: 5:49pm On Apr 09, 2020
Global Economic Reset.
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by Fhemmmy: 5:50pm On Apr 09, 2020
In the last months, it fell by 30% an it rally by 6% and it is called a surge? Till the pandemic is over and lockdown is over in the world, factories open and travelling is back with planes up in the air . . .Oil is NOT surging
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by dotedote: 5:51pm On Apr 09, 2020
Yenefer:
Who is pushing thread to front pages this days in nairaland, 90% of the people who visit nairaland don't benefit from Oil. Wether Oil price is high or low..., Most people here don't rip the benefits

It's about staying informed.
When you read about Davido carrying his baby or Dino Melaye taking selfies with his fast cars, what do you gain ?

2 Likes

Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by DarkJeddi(m): 5:51pm On Apr 09, 2020
Yenefer:
Who is pushing thread to front pages this days in nairaland, 90% of the people who visit nairaland don't benefit from Oil. Wether Oil price is high or low..., Most people here don't rip the benefits
Who told you that?

The very essence of Nigeria's economy and economic activities is tied to the price of oil in the world..

Petrol is currently N125 and you don't think oil prices matter?

Dollar to Naira is over N400 currently and you don't think oil prices matter? angry

Do you have the faintest idea of what Nigeria's economy scope entails? shocked

2 Likes

Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by PureGoldh(m): 5:52pm On Apr 09, 2020
Yawa dey....Las Las we go dey alright.

If you need Pure Original Honey...Call/Whatsapp 0 8 1 0166 6771 or on the number on the picture below let's talk about it.
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by Aboguede(m): 5:52pm On Apr 09, 2020
End of corona

If u known know
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by MhizJoyce(f): 5:53pm On Apr 09, 2020
Yenefer:
Who is pushing thread to front pages this days in nairaland, 90% of the people who visit nairaland don't benefit from Oil. Wether Oil price is high or low..., Most people here don't rip the benefits

I enjoy the benefits. I trade forex. This means I'm buying CAD cool
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by obailala(m): 5:53pm On Apr 09, 2020
Yenefer:
Who is pushing thread to front pages this days in nairaland, 90% of the people who visit nairaland don't benefit from Oil. Wether Oil price is high or low..., Most people here don't rip the benefits
Lack of meaningful education and enlightenment is the reason a lot of people think the price of oil doesnt affect them. This ignorant assertion isnt unique to you; millions of Nigerians both educated, highly educated and uneducated share this same ideology that oil price doesnt affect them. Afterall, if the economy crashes and price of basic commodities rise, we can lazily just blame 'government'.

3 Likes

Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by bcbones: 5:55pm On Apr 09, 2020
Yenefer:
Who is pushing thread to front pages this days in nairaland, 90% of the people who visit nairaland don't benefit from Oil. Wether Oil price is high or low..., Most people here don't rip the benefits


From your guinea fabric, you're from the north right? It looks nice sha
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by flexyrule(m): 5:56pm On Apr 09, 2020
Yenefer:
Who is pushing thread to front pages this days in nairaland, 90% of the people who visit nairaland don't benefit from Oil. Wether Oil price is high or low..., Most people here don't rip the benefits
And you think if this oil dries up they'll be anything called "Nigeria"?
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by airminem(f): 5:57pm On Apr 09, 2020
I need help!
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by Patrioticman007(m): 5:57pm On Apr 09, 2020
Yenefer:
Who is pushing thread to front pages this days in nairaland, 90% of the people who visit nairaland don't benefit from Oil. Wether Oil price is high or low..., Most people here don't rip the benefits
.

What a fallacious statement, 99 % of not only Nairalanders but Nigerians benefit from Crude Oil, as we speak right now. I bet there isn't a day you don't use a body lotions.
Do Google facts before you type.
The oil industry is the backbone of the Nigerian economy. The benefits of crude oil in Nigeria are evident. It provides 90 percent of the country's export revenues. ... Oil production brings about a billion investments in the country's economy as well as the development of related sectors of the economy and infrastructure.

Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by talk2ibk(m): 5:57pm On Apr 09, 2020
GideonG:
Russia and Saudi oil power, well thanks for the rise in oil.

I will start mentorship on certain skills that is currently huge right now.

Fancy remote job as a software developer or Data scientists or Artificial Intelligence?

Acquire the right mentorship to get the required skills as the world is changing fast. Send me a dm

Done
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by paix(m): 5:59pm On Apr 09, 2020
Yenefer:
Who is pushing thread to front pages this days in nairaland, 90% of the people who visit nairaland don't benefit from Oil. Wether Oil price is high or low..., Most people here don't rip the benefits
Who told you that?
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by obailala(m): 6:00pm On Apr 09, 2020
DarkJeddi:
Who told you that?

The very essence of Nigeria's economy and economic activities is tied to the price of oil in the world..

Petrol is currently N125 and you don't think oil prices matter?

Dollar to Naira is over N400 currently and you don't think oil prices matter? angry

Do you have the faintest idea of what Nigeria's economy scope entails? shocked
According to the reasoning of millions of educated and uneducated Nigerians, dollar rose to N400 strictly because the person in aso rock is a kunu sipping dullard. You'll be shocked at the number of adult educated Nigerians who have absolutely no clue on the link between oil and exchange rate.

1 Like

Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by paix(m): 6:01pm On Apr 09, 2020
airminem:
I need help!
You don miss your period?
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by arsenal33: 6:01pm On Apr 09, 2020
AroleOduduwa2:
Perfect timing, Buhari and his cohorts can now finish Nigeria for good.
e pain am
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by Galactico4ever(m): 6:02pm On Apr 09, 2020
BAD NEWS! Nigerian economy will now have reason to spend audio billions of $. i pity ourselves
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by AgainstIslam(f): 6:05pm On Apr 09, 2020
Yenefer:
Who is pushing thread to front pages this days in nairaland, 90% of the people who visit nairaland don't benefit from Oil. Wether Oil price is high or low..., Most people here don't rip the benefits

As Nigeria's economy is oil-dependent, then we are all affected either directly or indirectly by the price of crude oil in the international market.
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by Timileyin1234(m): 6:07pm On Apr 09, 2020
We would at last sell oil per barrel at #10
Re: Oil Prices Soar As OPEC+ Prepares To Cut Supplies by idonhammer: 6:08pm On Apr 09, 2020
Hanty we wey get more than one car benefit a lot from the oil price.You know why, I just filled my tank today and the change wey I get is equivalent of 1500NGN. So make the price continue to dey fall until Dem begin dey sell am $10. grin grin

Yenefer:
Who is pushing thread to front pages this days in nairaland, 90% of the people who visit nairaland don't benefit from Oil. Wether Oil price is high or low..., Most people here don't rip the benefits

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