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Nairaland Forum / Nairaland / General / Business / Why Oil Prices Are Crashing And What It Means (40065 Views)
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Why Oil Prices Are Crashing And What It Means by Nobody: 10:23pm On Mar 09, 2020 |
Oil prices have suffered their biggest fall since the day in 1991 when American forces launched air strikes on Iraqi troops following their invasion of Kuwait.source: https://edition.cnn.com/2020/03/09/business/oil-price-crash-explainer/index.html 8 Likes 4 Shares
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Re: Why Oil Prices Are Crashing And What It Means by MycroftHolmes: 10:25pm On Mar 09, 2020 |
One of the reasons why we need to diversify our economy. Things like these affect Nigeria on a different scale because oil is our only hope Other countries are shifting to renewable energy sources, and we are not even refining our own crude oil yet... Makes me wonder what hope there is for the future generations if the oil price crashes further (or the oil even finish kpata-kpata) And our leaders are just there, not caring about what the future holds for the nation. SMH 78 Likes 6 Shares |
Re: Why Oil Prices Are Crashing And What It Means by spinna: 12:23am On Mar 10, 2020 |
End time unfolding. 14 Likes 1 Share |
Re: Why Oil Prices Are Crashing And What It Means by omoyankee3(m): 2:28am On Mar 10, 2020 |
Gen gen |
Re: Why Oil Prices Are Crashing And What It Means by TOPCRUISE(m): 9:30am On Mar 10, 2020 |
I taught Corona is the cause of the crash 4 Likes 3 Shares |
Re: Why Oil Prices Are Crashing And What It Means by Karrima: 9:30am On Mar 10, 2020 |
Any country that depends on oil go soon hear am. 15 Likes 4 Shares |
Re: Why Oil Prices Are Crashing And What It Means by aminusodiq(m): 9:30am On Mar 10, 2020 |
Ok... Diversify 2 Likes 1 Share |
Re: Why Oil Prices Are Crashing And What It Means by mujiboy(m): 9:30am On Mar 10, 2020 |
Naira will crash soon again .. 10 Likes 2 Shares |
Re: Why Oil Prices Are Crashing And What It Means by emeijeh(m): 9:30am On Mar 10, 2020 |
According to the lady interviewed on Channels TV this morning : "Nigeria has a big problem ahead of her" 22 Likes 4 Shares |
Re: Why Oil Prices Are Crashing And What It Means by irepnaija4eva(m): 9:30am On Mar 10, 2020 |
And some idiots still want to borrow 22.5 billion dollars. Tell me if we borrow such amount how on earth, and for how long are we going to pay up? Purging our generations to eternal servitude. The price of oil is dwindling, other countries are diversifying but here, we are still talking of Electricity, road rehabilitation, lack of security etc.. By the time this administration is done with us, Even Venezuela go dey use us get hope.. 59 Likes 9 Shares |
Re: Why Oil Prices Are Crashing And What It Means by IMASTEX: 9:30am On Mar 10, 2020 |
The Nigeria politicians should be the worse hit because that is their looting money. Other Nigerians only read crude oil funds on papers 32 Likes 5 Shares |
Re: Why Oil Prices Are Crashing And What It Means by Topmaike007(m): 9:31am On Mar 10, 2020 |
All this oil price dey always do me somehow because I no dey understand am 9 Likes |
Re: Why Oil Prices Are Crashing And What It Means by Roon9(m): 9:31am On Mar 10, 2020 |
Since I was born till now I only hear of revenues from oil. Please what about gas?? Don't we export those? Please somebody should educate me Call for a decent solar plan for your home and businesses comprising a 1kva luminous inverter, 2*100AH battery and 4*150W solar module for up to 18hrs uninterrupted power supply daily. All for just #299,999 5 Likes 1 Share |
Re: Why Oil Prices Are Crashing And What It Means by Nobody: 9:31am On Mar 10, 2020 |
Who cares? When you have a stupid government with nothing other than wax in their brains, such developments become skyfall for them. 6 Likes 1 Share |
Re: Why Oil Prices Are Crashing And What It Means by MrPresident1: 9:31am On Mar 10, 2020 |
It means that price of petrol will fall N80 Per litre This is now the time for President Buhari to fulfil one of his campaign promises. He said he will stabilise world oil prices, didn't he? 10 Likes 1 Share |
Re: Why Oil Prices Are Crashing And What It Means by Philzzzy: 9:31am On Mar 10, 2020 |
The global economy is crumbling and Russia is very comfortable with that. Naira would become useless in the coming months. States and FG would owe salaries. Crime and looting would be on the increase. Countries would start stocking in. Nigeria would soon be a completely failed state. 16 Likes 3 Shares |
Re: Why Oil Prices Are Crashing And What It Means by peacettw: 9:31am On Mar 10, 2020 |
I see where we are headed and it doesn't bode well. 2 Likes 2 Shares |
Re: Why Oil Prices Are Crashing And What It Means by ITbomb(m): 9:32am On Mar 10, 2020 |
"By yielding our own markets, we remove cheap Arab and Russian oil to clear a place for expensive US shale oil and ensure the effectiveness of its production," he told Russian state media on Sunday.America entered the middle east to control the flow of cheap crude so that their expensive shale oil can be produced. That's why they could fund the arab wars. The real price of oil is $25 - $30 per barrel. Obasanjo achieved all he did with $23 - $40 per barrel. Methink, Nigeria can run on $35 per barrel by reducing cost of governance and decentralizing (removing things from the exclusive list). Anything over $40 should be strictly for infrastructure based on development plan But then, commonsense tells me that Buhari = Badluck 24 Likes 5 Shares
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Re: Why Oil Prices Are Crashing And What It Means by Nobody: 9:32am On Mar 10, 2020 |
And farmers are being frustrated 2 Likes
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Re: Why Oil Prices Are Crashing And What It Means by deolurexy1(m): 9:32am On Mar 10, 2020 |
What goes down must surely go up vice versa, the plan is for the covid19 to kill atleast 200million people by year end and hurt billionaires along the way. The dooms day believers and climate change scientists are behind this shit! 4 Likes 1 Share |
Re: Why Oil Prices Are Crashing And What It Means by Chrisus(m): 9:32am On Mar 10, 2020 |
What impact will this have on the naira to dollar exchange rate? |
Re: Why Oil Prices Are Crashing And What It Means by tempest01(m): 9:33am On Mar 10, 2020 |
Make the oil price situation no last reach 2 months oh... Una go hear am. Excess crude account dey dem save for this kind thing, Cabal don use am finish. 9 Likes 2 Shares |
Re: Why Oil Prices Are Crashing And What It Means by eleojo23: 9:33am On Mar 10, 2020 |
The value of dollar to naira is about to go up again. We may be heading to N500 to $1 again. 15 Likes 2 Shares |
Re: Why Oil Prices Are Crashing And What It Means by SEGLIZ: 9:33am On Mar 10, 2020 |
the world and its cabals. 2 Likes 1 Share |
Re: Why Oil Prices Are Crashing And What It Means by CSTR2: 9:33am On Mar 10, 2020 |
I expect the comments here to be few and far between. Nigerian are not as intelligent as they think. 18 Likes 1 Share |
Re: Why Oil Prices Are Crashing And What It Means by Nobody: 9:33am On Mar 10, 2020 |
It means WaHaLa and devaluation of the Naira Loading. Present BUDGET was made on $50 per barrel oil benchmark, and now that's has dropped to ?$30. 7 Likes 3 Shares |
Re: Why Oil Prices Are Crashing And What It Means by EliteStriker(m): 9:34am On Mar 10, 2020 |
This is a call to action for countries that depend on oil revenue to diversify. Our Tourism industry is still untapped talk more of services. verified adsense account with $91 and an established blog for sale. Contact me via signature |
Re: Why Oil Prices Are Crashing And What It Means by iCauseTrouble: 9:34am On Mar 10, 2020 |
Re: Why Oil Prices Are Crashing And What It Means by CSTR2: 9:34am On Mar 10, 2020 |
Chrisus:It's like asking what will water have on fire. |
Re: Why Oil Prices Are Crashing And What It Means by Sultty(m): 9:35am On Mar 10, 2020 |
I want oil to be rendered useless so useless in price since Nigerian leaders refuse to receive sense and are so proud I'll like to see what's left of them 7 Likes 2 Shares |
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