Oil’s Drop Below $50 May Be Just the Start as Demand Swoons
U.S. refineries, which turned a record amount of crude into gasoline during July, typically slow down from August through October
by Dan Murtaugh
August 3, 2015 — 1:53 PM EDT

Why Oil Prices Aren't Too Slick These Days
Oil has fallen to a six-month low, and hopes of a quick rebound are fading as demand heads into an autumn swoon.
Brent crude tumbled below $50 on Monday for the first time since January. Gasoline fell the most in almost three years.
The slump may have further to go. U.S. refineries, which turned a record amount of crude into gasoline during July, typically slow down from August through October for maintenance.

“We still have a lot of global oversupply,” Michael Wittner, head of oil-market research at Société Générale in New York, said on Bloomberg TV Monday. “We’re getting close to the autumn, [when] demand for crude and products hits a seasonal low point, so it’s hard to see where the uplift is going to come from.”
Also, demand for gasoline typically eases after summer as the seasonal workforce shrinks and families stop vacationing.

Hedge funds are growing more pessimistic. Money managers cut bets on rising Brent prices last week by the most in more than a year and are the least bullish on U.S. crude since 2010.



http://www.bloomberg.com/news/articles/2015-08-03/oil-s-drop-below-50-may-be-just-the-start-as-demand-swoons

Trailblazer1 reporting for bloomberg

.

Ok

$

Ff

If leakages are blocked, we would weather the storm.

.

time for the waste to go back to cocoa

The wall street and cia should stop this nonsense. Russia will never give up and those it mean we'll be like this for ever?

This thing Saudi Arabia and Kuwait re doing could lead to 3rd world war.

In senator Patrick's voice....... "I see the ship of Nigerian government, hovering around the sphare of Bermuda Triangle..... Of which if inadequate steps are not taken to meander the intactices of an insurable catalance, the ship of the Nigerian government will bathe into the aqua".....

Its time to start running the country with proceed frm groundnut..

Trailblazer1:
Oil’s Drop Below $50 May Be Just the Start as Demand Swoons
U.S. refineries, which turned a record amount of crude into gasoline during July, typically slow down from August through October
by Dan Murtaugh
August 3, 2015 — 1:53 PM EDT

Why Oil Prices Aren't Too Slick These Days
Oil has fallen to a six-month low, and hopes of a quick rebound are fading as demand heads into an autumn swoon.
Brent crude tumbled below $50 on Monday for the first time since January. Gasoline fell the most in almost three years.
The slump may have further to go. U.S. refineries, which turned a record amount of crude into gasoline during July, typically slow down from August through October for maintenance.

“We still have a lot of global oversupply,” Michael Wittner, head of oil-market research at Société Générale in New York, said on Bloomberg TV Monday. “We’re getting close to the autumn, [when] demand for crude and products hits a seasonal low point, so it’s hard to see where the uplift is going to come from.”
Also, demand for gasoline typically eases after summer as the seasonal workforce shrinks and families stop vacationing.

Hedge funds are growing more pessimistic. Money managers cut bets on rising Brent prices last week by the most in more than a year and are the least bullish on U.S. crude since 2010.



http://www.bloomberg.com/news/articles/2015-08-03/oil-s-drop-below-50-may-be-just-the-start-as-demand-swoons

Trailblazer1 reporting for bloomberg

May it fall to 200 naira per barrel IJN

imhotep:

May it fall to 200 naira per barrel IJN

Please, I don't mean the price of groundnut oil but crude oil

Trailblazer1:


Please, I don't mean the price of groundnut oil but crude oil

I suggest that crude oil be cheaper than groundnut oil.

Time for the SE to return to Palm Oil plantations of old.

Trailblazer1:


Please, I don't mean the price of groundnut oil but crude oil

Okay

The forward curve price on crude oil is a ($50 average) through 2016, hopefully our daura miracle worker can increase the upside potentials.

atlwireles:
The forward curve price on crude oil is a ($50 average) through 2016, hopefully our daura miracle worker can increase the upside potentials.

And you think the dullard understands all these grammar

Trailblazer1:
And you think the dullard understands all these grammar

His sai chanters are all on deck

AshiwajuFoward:
Time for the SE to return to Palm Oil plantations of old.

SE never depended on oil unlike you Lazy South West parasites, whereas which palm oil plantation are you talking about while SE have already embraced Science and Technology eg Innoson, Zinox etc

South West should start planting Cocoa.

winniz:


SE never depended on oil unlike you Lazy South West parasites, whereas which palm oil plantation are you talking about while SE have already embraced Science and Technology eg Innoson, Zinox etc

South West should start planting Cocoa.

Story for the gods. Una no dey collect allocation? Abi you think it is money from Aba and Onitsha that your governors use to execute projects and pay salaries? What did you contribute to get that much money from FG? No be Oil money? We (SW) are already contributing billions from Cocoa exports, what are you all contributing? Na una be the real proper leaches. TELL US WHAT SE IS CONTRIBUTING TO THE CENTER? ?

Oil price is falling, never to rise again!
A new era is about to begin.

apc say dem go diversify our economy..... na frm next yr I go rate buhari performances .... Gej my man

National revenue keeps going down, understandably, States are finding it harder to keep afloat but the 469-membered-NASS budget is still 10-20% of our national budget.

Pastor Saraki, Senator Ben Bruce, Senator Sanni and colleagues should demonstrate how much they care by discussing how to drastically reduce the NASS expenses to reflect the current economic reality of the Nation.

PMB needs to overhaul the Top echelon of EFCC, ICPC and CCB. These bodies have the potential of recovering so much money trapped with few Nigerians now.

AshiwajuFoward:


Story for the gods. Una no dey collect allocation? Abi you think it is money from Aba and Onitsha that your governors use to execute projects and pay salaries? What did you contribute to get that much money from FG? No be Oil money? We (SW) are already contributing billions from Cocoa exports, what are you all contributing? Na una be the real proper leaches. TELL US WHAT SE IS CONTRIBUTING TO THE CENTER? ?

Imo and Abia are among oil producing states that contributes hugely to your zoo economy. When you talk about allocation, how much allocation do SE receive from your zoo government? cos SE collects very low allocation, they still raise IGR that is used in running their various states.

South West contributing billions of naira from Cocoa export is a huge lie that was busted on this thread. You lots are just Lazy parasites, only good in cooking up fake facts and figures to deceive gullible Nigerians.
https://www.nairaland.com/2496058/debunking-latest-lie-nigeria-did

winniz:


Imo and Abia are among oil producing states that contributes hugely to your zoo economy. When you talk about allocation, SE collects very low allocation, they still raise IGR that is used in running their various states.

South West contributing billions of naira from Cocoa export is a huge lie that was busted on this thread. You lots are just Lazy parasites only good in cooking up fake facts and figures.
https://www.nairaland.com/2496058/debunking-latest-lie-nigeria-did

LOL. SW giving una bad-belle lot headache since donkey years . Imo and Abia Oil is tantamount to a drop in the bucket to the center -- it's so small that Ondo, and even Oyo (a non-oil producing state) receive more allocation than Imo not to talk of Abia. The real grouse you all have is in the fact that we get more allocation than you all -- obviously coz we contribute way more. Lagos, Ogun and Oyo still collect more IGR than any other SE state except for Enugu. We have more industries than any other region, our sea and airports contribute more than all your states combined to the federal coffers. Lagos alone contributes more than 2 trillion to the FG (though it unfairly receives 96billion in return). In short, as a stand-alone country we have all it takes to be the dominant country in West Africa . Our region also makes the largest non-oil contribution to the FG. Lagos economy alone, according to Ambode, is worth $131billion dollars -- more than over 40 countries in Africa. What the heck, that flyoroba guy thrashed you all on that thread you referenced. You don't have to believe our Cocoa export value coz you are a nobody in the overall scheme of things. As long as the FG knows and captures our contribution, that's all good . I'm still yet to see any data of your contribution though, besides Abia and Imo Oil, which isn't even worth bragging about.

[size=18pt]allahu akabar!!!
May it return to $15 dollars where the rise started from[/size]

AshiwajuFoward:


LOL. SW giving una bad-belle lot headache since donkey years . Imo and Abia Oil is tantamount to a drop in the bucket to the center -- it's so small that Ondo, and even Oyo (a non-oil producing state) receive more allocation than Imo not to talk of Abia. The real grouse you all have is in the fact that we get more allocation than you all -- obviously coz we contribute way more. Lagos, Ogun and Oyo still collect more IGR than any other SE state except for Enugu. We have more industries than any other region, our sea and airports contribute more than all your states combined to the federal coffers. Lagos alone contributes more than 2 trillion to the FG (though it unfairly receives 96billion in return). In short, as a stand-alone country we have all it takes to be the dominant country in West Africa . Our region also makes the largest non-oil contribution to the FG. Lagos economy alone, according to Ambode, is worth $131billion dollars -- more than over 40 countries in Africa. What the heck, that flyoroba guy thrashed you all on that thread you referenced. You don't have to believe our Cocoa export value coz you are a nobody in the overall scheme of things. As long as the FG knows and captures our contribution, that's all good . I'm still yet to see any data of your contribution though, besides Abia and Imo Oil, which isn't even worth bragging about.

Lagos contribution frm the ports or from receipts from Lagos cocoa? Lol. You will soon be forced to have your own cocoa republic so you can dominate the whole worl.

owobokiri:


Lagos contribution frm the ports or from receipts from Lagos cocoa? Lol. You will soon be forced to have your own cocoa republic so you can dominate the whole worl.

Whatever you prescribe to us equally applies to your region boy. But in anycase don't you worry about us, be it with Cocoa, industries, sectors such as Telecoms, I.T, Agriculture, our ports, or whatever. We will survive. Concentrate on your own region (where many of your people can't survive unless they venture out of your region) coz we will be mighty fine