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We Will Limit Our Output, Drive Up Oil Prices- Buhari Promises OPEC - Politics - Nairaland

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We Will Limit Our Output, Drive Up Oil Prices- Buhari Promises OPEC by Barondenigeria: 10:13pm On Feb 20, 2019
President Muhammadu Buhari Wednesday pledged the cooperation of Nigeria to the effort to reduce oil output in order to attract higher prices in the global market.

Buhari made the promise during a meeting with Mr Ahmad Qattan, Minister of State for African Affairs and Special Envoy of King Salman Bin Abdulaziz, Custodian of the Two Holy Mosques and King of Saudi Arabia, at the State House, Abuja.

President Buhari said as a responsible member of the Organisation of Petroleum Exporting Countries, OPEC, Nigeria is willing to go along with the Saudi initiative in limiting output so that prices would go up.

The President said output cuts had always been difficult for Nigeria considering the country’s peculiar circumstances of large population, huge expanse of land and state of under-development, adding, “I wish we can produce more.”

However, he said: “I have listened carefully to the message. I will speak with the Minister of State for Petroleum. I will call for the latest production figures. I know that it is in our interest to listen. We will cooperate.”

President Buhari explained that higher oil prices will make both nations stronger and their citizens more prosperous.

He commended King Salman for his leadership in global oil matters, assuring that Nigeria will continue to accord respect to the Kingdom in that regard.

The Special Envoy said he had brought special greetings from King Salman and the Crown Prince, and expressed their best wishes for Nigeria as the country goes into general elections.

Mr Qattan said the important reason for which King Salman sent him was to make a request to President Buhari to ensure Nigeria’s compliance with quotas assigned in January by exiting previous exemption from output cuts.

He said his country had reduced its own output by 1.4 million barrels per day to ensure that prices went up, stressing however, that Saudi Arabia alone cannot bring stability to the oil market and shore up prices..

Source:
http://www.insiderpostonline.com/news/we-will-limit-our-output-drive-up-oil-prices-buhari-promises-opec/

Re: We Will Limit Our Output, Drive Up Oil Prices- Buhari Promises OPEC by Mynd44: 3:17am On Feb 21, 2019
https://www.nairaland.com/5036088/nigeria-consider-reducing-oil-output
Re: We Will Limit Our Output, Drive Up Oil Prices- Buhari Promises OPEC by VulgarVulvas: 3:25am On Feb 21, 2019
Saudi puppet

1 Like

Re: We Will Limit Our Output, Drive Up Oil Prices- Buhari Promises OPEC by socialmediaman: 3:27am On Feb 21, 2019
They have deceived the tyrant! What does he know about business and negotiations?

They cannot deceive seasoned businessmen like Atiku this way!

Saudi is the world’s top oil producer after the US. They (Saudi) produce 10 - 12 million barrels daily (population of 33 million) while Nigeria is struggling with less than 2 million barrels (population of 200 million), so who should reduce production out of the 2 countries, and who benefits most from this agreement? Must the tyrant also double as a puppet?

Meanwhile as the tyrant is obeying orders from his masters, Other top producers are increasing their production

1 Like

Re: We Will Limit Our Output, Drive Up Oil Prices- Buhari Promises OPEC by VulgarVulvas: 3:45am On Feb 21, 2019
socialmediaman:
They have deceived him!

Don't mind the goat .

Saudi is the second largest crude oil exporter with on average 10 million barrels a day. Russia is the top oil producer and not a member of OPEC.

Saudi will dictate to OPEC members to make cuts while they won't make ant significant cuts on their part.

Since Buhari came into power the Saudis own a significant share in our oil economy through the satanic Sukkok loan arrangement . Saudis also have a huge stake in the oil security sector as Buhari awarded security contracts to the Saudi owned Black Water firm.

I have never seen such a compound fool like Buhari . The security contracts where awarded to ND militants under the amnesty program but because Buhari and his band of ethno religious bigots can not stomach the sight of the ND people making any money , he rescinded the contracts and handed the security apparatus to a foriegn firm. .

The man's bigotry is legendary

1 Like

Re: We Will Limit Our Output, Drive Up Oil Prices- Buhari Promises OPEC by hansomb: 3:46am On Feb 21, 2019
nice move
Re: We Will Limit Our Output, Drive Up Oil Prices- Buhari Promises OPEC by QuotaSystem: 3:47am On Feb 21, 2019
The good thing here is that anything lost to reduced output will be gained eventually with higher oil prices.

Plus the diplomatic points PMB gains for Nigeria in the comity of oil producing nations.

We are moving to the Next Level with Sai Baba Mai gaskiya.

Re: We Will Limit Our Output, Drive Up Oil Prices- Buhari Promises OPEC by QuotaSystem: 3:58am On Feb 21, 2019
VulgarVulvas:


[s]Don't mind the goat .

Saudi is the second largest crude oil exporter with on average 10 million barrels a day. Russia is the top oil producer and not a member of OPEC.

Saudi will dictate to OPEC members to make cuts while they won't make ant significant cuts on their part.

Since Buhari came into power the Saudis own a significant share in our oil economy through the satanic Sukkok loan arrangement . Saudis also have a huge stake in the oil security sector as Buhari awarded security contracts to the Saudi owned Black Water firm.

I have never seen such a compound fool like Buhari . The security contracts where awarded to ND militants under the amnesty program but because Buhari and his band of ethno religious bigots can not stomach the sight of the ND people making any money , he rescinded the contracts and handed the security apparatus to a foriegn firm. .

The man's bigotry is legendary[/s]

Re: We Will Limit Our Output, Drive Up Oil Prices- Buhari Promises OPEC by VulgarVulvas: 3:59am On Feb 21, 2019
[s]
QuotaSystem:
The good thing here is that anything lost to reduced output will be gained eventually with higher oil prices.

Plus the diplomatic points PMB gains for Nigeria in the comity of oil producing nations.

We are moving to the Next Level with Sai Baba Mai gaskiya.
[/s
Parasite
Re: We Will Limit Our Output, Drive Up Oil Prices- Buhari Promises OPEC by QuotaSystem: 4:04am On Feb 21, 2019
socialmediaman:
They have deceived the tyrant! What does he know about business and negotiations?

They cannot deceive seasoned businessmen like Atiku this way!

Saudi is the world’s top oil producer after the US. They produce 10 - 12 million barrels daily (population of 33 million) while Nigeria is struggling with less than 2 million barrels (population of 200 million), so who should reduce production out of the 2 countries, and who benefits most from this agreement? Must the tyrant also double as a puppet?

Meanwhile as the tyrant is obeying orders from his masters, Russia and Other top producers are increasing their production

The USA is not an OPEC member, wail with sense.

1 Like

Re: We Will Limit Our Output, Drive Up Oil Prices- Buhari Promises OPEC by QuotaSystem: 4:06am On Feb 21, 2019
VulgarVulvas:
[s][/s
Parasite

Parasites are the ones that dearly cling onto their hosts despite a quit order to leave.

Don't get it twisted wink.

Re: We Will Limit Our Output, Drive Up Oil Prices- Buhari Promises OPEC by VulgarVulvas: 4:09am On Feb 21, 2019
QuotaSystem:


Parasites are the ones that dearly cling onto their hosts despite a quit order to leave.

Don't get it twisted wink.

Parasite
Re: We Will Limit Our Output, Drive Up Oil Prices- Buhari Promises OPEC by socialmediaman: 12:20pm On Feb 21, 2019
QuotaSystem:


The USA is not an OPEC member, wail with sense.

Emm... can’t believe I have to explain that bolded paragraph. The punctuation marks used were supposed to explain it all.

“They” as used in that sentence meant “Saudi”, not “Saudi and US”. As you could see, the brackets indicated a population of 33 million (that of Saudi). Why was US mentioned in the sentence at all? Just to reference that Saudi Isn’t the only top oil producer at the moment, could’ve also mentioned Russia and others.

Now, the comparison was completely between Saudi and Nigeria, US had nothing to do with it.

I’ve added (Saudi) in there so someone else would not quote out of context like you did

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