Equity15:


Thanks, but why aren't they in OPEC then?

they are the highest producers not the highest exporter

Afamed:

Don't be a local man. US tax and food prices are all at highest rate when compared to Nigeria. The US inflation is all time high

oga stop spreading ignorance, usa inflation rate is currently at 7.9 while Nigerian inflation rate is close to 17%. Is this the latest propaganda ur paymesters in the BMC told u to spread to excuse their incompetence?

dedonfranco:
Nigerians removed Goodluck Jonathan elected Buhari

USA removed Donald Trump elected Joe Biden

Nobody is perfect

wailing wailer.

GardenOfGod:

When will the Nigerian government emback on such a life changing initiative to cushion the effects of hardship amidst this economic woes they migrated us into?

Do u call what we have here government?

America don ready for Russia .long time ago

You have to believe that President Vladimir Putin and his fellow Kremlin pranskters planned it this way. April Fools’ Day 2022 marks the first day that all nations unfriendly to the Russian Federation will be required to pay for their natural gas and oil in rubles, and only rubles… unless of course they want to pay with gold

Mazigoldnet:



Trump refilled it, cos the reserve was almost less than half... So wat the guy u replied said is absolutely correct.

Yeah him and TRAMP are both telling big ass lies
.
The reserve is automatically filled by whichever govt is in power.
Stop believing TRAMP lies, the man is incapable of telling the truth to save his own life.
Lying SOB.

Equity15:
but they are not in OPEC. Please clarify

They decided not to join because they want total control over the production and sales of their oil without interference from OPEC.. At one point, they were producing more barrels a day than Russia ND Saudi Arabia put together

Mazigoldnet:



Trump refilled it, cos the reserve was almost less than half... So wat the guy u replied said is absolutely correct.

I don't know where you got your half from.

Trump actually depleted the reserves. Check the years Trump was president below.

Even NYPost (a subsidiary of Fox News) could not help but burst Trump's usual lies

SlyfoxxjReturns:


https://science.howstuffworks.com/environmental/energy/us-oil-reserves-last.htm


[/b]If the president must order an emergency sale of SPR oil, it can be pumped at a maximum rate of 4.4 million barrels per day for up to 90 days. Afterward, the drawdown rate declines to 3.8 million barrels per day for another 30 days. The rate drops again for up to 180 days until the stock is depleted.[b]

You can use the internet for much more than just self-service videos my man

Are u a clown or what? You said no country has reserve to last more than a month and went ahead to post link that contradicts the rubbish you said initially... Do u even have an idea of how many days that makes a month?

IPIGSRDOTARDS:
[[s]quote author=Miracle112 post=111536026]Oil production has increased domestically since 2020, the problem is OPEC and Russia have decreased their production while demand has risen.
Thank president Trump for the reserves. He bought up oil when it was cheap.

By the way.. I have a standard unisex saloon for sale located at very busy junction in Portharcourt.
Very standard with up to date facilities.
3.3m price[/s]


Stop posting rubbish trash.
The US govt have been buying and saving oil in the reserve before TRAMP ever thought of running for us President.

100%.

obedience4:


You guys are not Smart ooo.
The USA is the highest producer's of oil

Smarter guys i hear you o hahahaha. What do you know sef. Keep believing the lies they tell to you and your children

IbomFinest:

How?
You think EU countries don't also have oil reserve? Even Nigeria have oil reserve.

Continue deceiving yourself. Nigeria and reserve are two words that cannot meaningfully go together in a sentence.

kelvindj98:
Just look at the idiotic analysis on the front page. And people wonder why ancient thieves continue to remain in government. Are the youths even intelligent enough to displace them.

nextstep:


Right... he is the clueless one. Upon all the advice from members of the Department Of Energy, and multiple other agencies and departments. No, it's you who sees more clearly than all the people in charge of the strategic reserves.

that's why I'm the next step.

ButterBurger:
this is actually the raining days, save your strength for your own fortune

nah it's not.

just2endowed:


Which oil reserve? Where are they stored?

so dumb! Even when you have google, you'll still want to make a blind argument.

America

I see you didnt read the article. Clearly says the oil reserve in America is only 600 million barrel. America consumes 30 million barrels a day . 600 divided by 20. Thats a 30 day supply if theres no single oil.

6 months ago a Russian hacking group hacked an oil company here in usa. For a whole week there was fuel scarcity bcuz that company controlled 60% of America's pipelines

saajus:
These people always think of tomorrow. Do you know the American present oil reserve can last them for 98 years.

Read the fine print. That's proven oil reserves. We talking about strategic oil reserves, which are reserves that are already stored. There is proven and unproven reserves which are not beneficial during fuel scarcity because they still need to be drilled and refined. The only real reserve that can be used is the strategic reserves which us 600 million barrels as of December 2021

Lonelyhrt1:

That’s not even up to 1% of US oil reserves or you think they’re talking about 9ja oil reserves.

The Ruble has recovered 100%. Before the invasion it was 79 to usd. Then reached a high of 140 to usd when sanctions were announced. Now it's back to 82. Just 3 point short of its preinvasion amount.


Yahoo finance breaks it down better for you

https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/ruble-surges-close-pre-invasion-161343666.html

Lonelyhrt1:

Before it was 130/$ and as at today it’s 82/$ is this your definition of recovered?

Maduro said Venezuela can only produce 1.8 million barrels a day. That would mean the world still needs 9 million barrels to even forget Russia. Qatar already said no one but Russia can meet Europe's oil demands. Even Europe knows Russia is the only one that's why they now looking for renewable energy options but that would still take almost 10 years to fully implement. Plus you forgetting Europe depends on Russia for liquid natural gas. Again Russia is the only one that can meet that demand. Yes USA said they would supply some liquid natural has but that's only 10% of what Russia supplies them and it would not come in liquid form. So Europe would need to build the infrastructure to turn it to liquid again would take 2 to 3 years.

Minjim:


It all depends

The US has been visiting Venezuela, a country with the largest crude reserve, of lately. And they're reopening talks with Iran.
If those peoples oil enter the market. Most people will forget Russia in no time

NinjaXmetahuman:
40 million litres. Not 40 million barrels.

You get about 75 litres of petrol per barrel.

Okay thanks man

IbomFinest:

How?
You think EU countries don't also have oil reserve? Even Nigeria have oil reserve.

Nigeria got oil reserve?
Dem don steal am finish patapatA

Wannabenz:

Russia ruble has recovered that's Biden dey run upandan because USA citizen dey feel the heat.

Russians feel the heat morethan the Americans.

Frankiss44:


Are u a clown or what? You said no country has reserve to last more than a month and went ahead to post link that contradicts the rubbish you said initially... Do u even have an idea of how many days that makes a month?

I can see you’re an illiterate that needs everything spelt out to you. The scenario given in that link is assuming the president releases just 4 million barrels a day from the strategic petroleum reserve which will hardly make a dent because America consumes over 20 million barrels a day as you can see in the original post you are commenting on. If the president releases the full 20 million barrels a day then do the math yourself of how long it will last olodo.

The point is that America’s oil reserves are finite and not unlimited like you think. Just like any other country. If you don’t drill or buy your reserves will deplete in a matter of weeks Depending on how much is released and how much the country consumes.

What the population of Russia compare to that USA ? Know this before concluding.Biden is doing that as a proactive measure ,USA will be the least nation to have any adverse effect of oil and Gas .Canada has the largest oil and gas reserve in the world ,even Saudi nor reach Canada for oil reserve .Know this and know peace

incandescentena:
Few days of Russia, ukraine invasion and US is already discharging it 120years stolen oil in reserve...hahahaha World power indeed

Russia is ahead of the propaganda campaigns of the West and NATO

America is still the best country in the world

Number 1⃣ nation don talk, make others con dey run up and down...


Smh

SlyfoxxjReturns:


I can see you’re an illiterate that needs everything spelt out to you. The scenario given in that link is assuming the president releases just 4 million barrels a day from the strategic petroleum reserve which will hardly make a dent because America consumes over 20 million barrels a day as you can see in the original post you are commenting on. If the president releases the full 20 million barrels a day then do the math yourself of how long it will last olodo.

The point is that America’s oil reserves are finite and not unlimited like you think. Just like any other country. If you don’t drill or buy your reserves will deplete in a matter of weeks Depending on how much is released and how much the country consumes.

You are a big fool who comes online to say this ignorantly. Read this link and enlighten yourself... Many countries have reserved that can last for 90 days and above not just weeks as u stupidly said.. Illiterate spitting rubbish with confidence.. Idiots like you think every country is as useless as you country that eats up all it has today and never plans for the future

Frankiss44:


You are a big fool who comes online to say this ignorantly. Read this link and enlighten yourself... Many countries have reserved that can last for 90 days and above not just weeks as u stupidly said.. Illiterate spitting rubbish with confidence.. Idiots like you think every country is as useless as you country that eats up all it has today and never plans for the future

You’re determined to prove your mother raised a senseless animal abi? I can see that clearly. I repeat, no country can cover FULL CAPACITY of daily consumption from Their reserves for long. The US can only release 4 million barrels a day from their reserves if it is to last 90 days NOT the full 20 million barrels which is their actual daily consumption.

The general point I was making which you snared at is the US has limited reserves like most countries so this action by Biden is basically just kicking the can down the road. It’s nit even having the intended effect of reducing oil prices because oil reserves are like a drop in a bucket compared to what is drilled and sold on a daily basis.

If you know nothing about oil and gas industry then just shit up instead of coming to advertise your stupidity and ignorance all over the Internet. And use the opportunity to rubbish your own country again. Omo ale. Better go and look for your useless father. Quote me carelessly again and I will make sure both of us get banned today.

Maynman:


That’s why it’s called reserve. What do you think they use reserve for?

Reserve is not meant for self inflicted damages. The sanction against Russia has failed woefully. They should retract on time because China is lurking around.