Cheery news,America that used to be the biggest buyer of Nigerian crude,has now become the biggest producer of crude oil in the world.As if that is not good enough,they recently started exporting crude to other countries,so this efectively means that the downward slide of crude prices in the international market will continue.So Nigerian crude may soon be selling for as low as $20 per barrel,cant wait for it to get to as low as between $5 to $10 per barrel,,,,,so that we as a people will eventually put on our thinking caps and every state will now begin to develop and harness the natural resources that they're blessed with.The FG will be forced to rethink a lot of policies,the governors will stop running cap-in-hand to Abuja at the end of every month to share oil earnings.Consequently,the atrraction of the office of president will dwindle and it will cease to be this do-or-die,winner-takes-all nonsense it currently is.

Country Production (bbl/day)
1 United States 13,973,000
2 Saudi Arabia (OPEC) 11,624,000
3 Russia 10,853,000
4 China 4,572,000
5 Canada 4,383,000
6 United Arab Emirates (OPEC) 3,471,000
7 Iran (OPEC) 3,375,000
8 Iraq (OPEC) 3,371,000
9 Brazil 2,950,000
10 Mexico 2,812,000
11 Kuwait (OPEC) 2,780,000
12 Venezuela (OPEC) 2,689,000
13 Nigeria (OPEC) 2,427,000
14 Qatar (OPEC) 2,055,000
15 Norway 1,904,000
16 Angola (OPEC) 1,756,000
17 Algeria (OPEC) 1,721,000
18 Kazakhstan 1,719,000
19 Colombia 1,016,000
20 India 978,000
21 Oman 951,000
22 Indonesia (OPEC) 911,000
23 United Kingdom 906,000
24 Azerbaijan 856,000
25 Argentina 715,000
26 Malaysia 697,000
27 Egypt 667,000
28 Ecuador (OPEC) 557,000
29 Libya (OPEC) 516,000
30 Australia 478,000
31 Thailand 422,000
32 Vietnam 316,000
33 Turkmenistan 276,000
34 Equatorial Guinea 269,000
35 Sudan and South Sudan 262,000
36 Congo, Republic of the 259,000
37 Gabon 240,000
38 Peru 180,000
39 Denmark 171,000
40 Italy 169,000
41= Germany 160,000
41= South Africa 160,000
43 Japan 137,000
44 Yemen 127,000
45 Brunei 124,000
46 Trinidad and Tobago 116,000
47 Ghana 106,000
48 Romania 104,000
49 Chad 103,000
50 Pakistan 98,000
51 Uzbekistan 85,000
52 Cameroon 81,000
53 South Korea 79,000
54 Timor-Leste 76,000
55 Bolivia 67,000
56 Ukraine 66,000
57= Bahrain 64,000
57= Netherlands 64,000
59= France 61,000
59= Turkey 61,000
61 Tunisia 59,000
62 New Zealand 50,000
63 Cuba 49,000
64 Spain 40,000
65 Poland 39,000
66 Ivory Coast 37,000
67 Papua New Guinea 34,000
68 Syria 33,000
69 Belarus 32,000
70 Austria 27,000
71 Philippines 26,000
72 Hungary 25,000
73 Taiwan 22,000
74= Albania 21,000
74= Myanmar 21,000
74= Mongolia 21,000
74= Serbia 21,000
78= Congo, Democratic Republic of the 20,000
78= Niger 20,000
78= Singapore 20,000
81 Croatia 18,000
82= Chile 15,000
82= Virgin Islands, U.S. 15,000
84= Guatemala 14,000
84= Suriname 14,000
86= Belgium 13,000
86= Estonia 13,000
88 Sweden 12,000
89 Czech Republic 11,000
90 Finland 10,000
91= Lithuania 9,100
91= Slovakia 9,100
93 Greece 8,700
94 Portugal 7,100
95 Mauritania 6,000
96 Israel 5,800
97 Morocco 5,100
98 Bangladesh 4,800
99 Switzerland 3,900
100 Bulgaria 3,400
101 Aruba 2,800
102 Jamaica 2,100
103 Paraguay 2,000
104 Belize 1,800
105 Netherlands Antilles 1,500
106 Uruguay 1,200
107= Barbados 1,000
107= Georgia 1,000
107= Latvia 1,000
110 Ireland 900
111 Puerto Rico 700
112= Costa Rica 300
112= Slovenia 300
114= Jordan 200
114= Malawi 200
114= Tajikistan 200
114= Zambia 200
118= Ethiopia 100
118= Hong Kong 100
118= Zimbabwe 100

https://en.wikipedia.org/wiki/List_of_countries_by_oil_production

Good.

The price of crude might eventually go up after all.

This will mean more revenue for them.

Or they could simply leave things the way they are to get back at Nigeria and Russia.

Crash the market further. Smart and coy Americans.

After all they did not ask our leaders to squander our common wealth.

If this will purge this country and ensure that there is nothing for politicians to steal, then so be it.

Governance in Nigeria is one of the laziest in the Universe. Even ants are smarter than the Nigerian government. At least ants plan.

Some people be like "give us our oyel"

Where next will they steal oil from?

With this, Russia should brace up for the tyranny of America in the oil market.

@OP: You were being benevolent with your wish for crude oil to crash to between $5 to $10.
Personally, I wish it would crash below that figure.
Ours is a country full of greedy and retard3d thieving politicians, who, even at this moment, are still stealing whatever they could lay their fingers on.
At the height of the oil boom, our so called leaders were quoted several times saying the problem Nigeria had wasn't money, but how to spend the money. Several years down the line, we are even worse off than before the oil boom and the excess foreign reserve.

When Donald Trump recently said Africans need to be recolonized for a 100 years because we are incapable of governing ourselves, do you all see how right he was?

cosby02:
Some people be like "give us our oyel"

Can't you observe they have kept quiet now? Their oyel is gradually becoming useless.

SmartMugu:

Can't you observe they have kept quiet now? Their oyel is gradually becoming useless.

Nothing last forever. It might be Kogi or Benue's turn to feed the nation tomorrow and it doesn't mean it will continue forever.

America the serpent, they milked the rest of world oil dry, and hide behind climate change and environmental pollution wayo all this while!

The only interest that matter to the american is their own national interest and how to dominance the earth through covert devilish means!

Dollar is weak and the only way to strength it, is by weakening other nations economies.

Supposed it is Russia or China that engaged in thing like this, the american will cry wolf about internation trade stability etc! 8

Nigeria doesn't know what it produces perday. That's bad. I wish Nigeria will optimize production while still focusing on non oil revenue.

Awoofawo:
America the serpent, they milked the rest of world oil dry, and hide behind climate change and environmental pollution wayo all this while!

The only interest that matter to the american is their own national interest and how to dominance the earth through covert devilish means!

Dollar is weak and the only way to strength it, is by weakening other nations economies.

Supposed it is Russia or China that engaged in thing like this, the american will cry wolf about internation trade stability etc! 8

And were the rest of the world asleep when America was milking them?

Have you ever seen a great man or country that achieved greatness without being smart and cunning?
How do you even describe our politicians who rape and loot our economy, only to stash and invest their loot overseas? Enough of blaming America for our woes. We put ourselves in this situation.

earn free bit coin here and be rich...1bitcoin=$424.66
just imagine how big you will becomehttps://www.coinbase.com/join/568144b5705bf20a4600015a

As Op said, I foresee a dwindling oil price over the next few years as well a dwindling economy. If care is not taken, we'll cease to be the giant of Africa. I hope our government sees this as a call to action and make efforts to diversify our economy through the use of Agriculture and Industrialization, as we've got fertile lands, and abundant natural resources.