Die-hards :-)
http://mobile.reuters.com/article/idUSKCN0W20JH

spinoff:
Die-hards :-)

http://mobile.reuters.com/article/idUSKCN0W20JH

Paste the whole content here. That's how it's done on NL.

I think that is not a good news considering that Saudi Arabia had finally agreed to a freeze.

Let us continue monitoring the situation and what will happen in June OPEC meeting.

Someone should tell Buhari to start making hay while the sun shines ooo. If OPEC no freeze output by June, kasala go burst for this country ooo. Russia, Saudi Arabia, Qatar don already dey plan ahead, na only Nigeria dey wait for increase in oil price.

-Lord

LordAdam:


Paste the whole content here. That's how it's done on NL.

I think that is not a good news considering that Saudi Arabia had finally agreed to a freeze.

Let us continue monitoring the situation and what will happen in June OPEC meeting.

Someone should tell Buhari to start making hay while the sun shines ooo. If OPEC no freeze output by June, kasala go burst for this country ooo. Russia, Saudi Arabia, Qatar don already dey plan ahead, na only Nigeria dey wait for increase in oil price.

-Lord

just watched an Iranian official been interviewed and he said Iran cannot set an oil embargo on itself by cutting any oil output.That Iran is going to reach their production level before the embargo before it even listens to any talk about cutting back..he said it in such a way to suggest that other oil nations should not bother them about cutting oil output

http://money.cnn.com/2016/02/28/news/economy/iran-oil-production-deputy-minister-interview/

Obama should not have relented to pressure and let shaleing commence. America is supposed to be leader of the world, negotiating a path that leads to stability and alleviation of poverty in the third-world. America does not need to sell oil. Given that many of the nations reliant on oil are second and third world nations, Americas use of shale as a weapon to suppress prices is despicable. People will of course posit the capitalist argument, excusing America on the grounds of independence and supposed self-interest. This however overlooks the importance of bilateral relations and all that talk of millennium goals and so on. It is as if the world has learned nothing from the days when India, East Africa and parts of Latin America suffered and endless cycle of conflict or starvation because the West had managed to maneuver the world into a situation whereby they had to compete among themselves for ever decreasing markets share because they all were forced to produce the same cash-crops, utilizing all the best lands, thus leaving themselves only poor lands to grow food for home consumption.

asha80:
just watched an Iranian official been interviewed and he said Iran cannot set an oil embargo on itself by cutting any oil output.That Iran is going to reach their production level before the embargo before it even listens to any talk about cutting back..he said it in such a way to suggest that other oil nations should not bother them about cutting oil output

http://money.cnn.com/2016/02/28/news/economy/iran-oil-production-deputy-minister-interview/

Yea, I read that too. However, you must note that OPEC cutting production alone can make oil price rally up.

Saudi Arabia and industry watchers have always known Iran will not cut production any time soon as early as 2014 when the nuclear deal between US and Iran was wrapping up.

If I was Iran, I wouldn't cut production either. They need to sell as much oil as they can produce to reverse the debilitating effects of sanctions they have been under. And Iran has political reasons to push up their production when 95% of muslim OPEC countries are political enemies especially Saudi Arabia, the UAE, and now Nigeria (with the Zaria shiite massacre).

I think what SA will be more concerned about is the position of the US shale oil producers.

With US and Iran on one side, it would be interesting to know what Saudi Arabia will decide to do come June this year. All eyes are on Saudi Arabia.

-Lord