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Why Oil Prices Are Crashing And What It Means - Business (4) - Nairaland

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Re: Why Oil Prices Are Crashing And What It Means by TLION(m): 11:14am On Mar 10, 2020
eleojo23:
The value of dollar to naira is about to go up again.

We may be heading to N500 to $1 again.
Make e go up abeg for boys wey dey hustle
Re: Why Oil Prices Are Crashing And What It Means by Jeferious: 11:15am On Mar 10, 2020
fabienjoe:


Lol! You honestly think the 'cheap' Chinese products you see is because Chinese love selling cheap things to the world? China cannot raise or reduce prices any more than market forces allow. There is competition between China and other countries as well as between producers within China itself. That would determine the prices of goods after coronavirus crisis..
The only competition China has is within itself. China is market force itself. No country comes close to China when it comes to production of commodity balanced well against relatively cheap price. I may be wrong though.

As for the hike in prices, I think producers would like to make up for what they lost in the first three months of the year through an increase in prices. I'm waiting for my own price list of the things I import to know how true my postulation was.
Re: Why Oil Prices Are Crashing And What It Means by SeriouslySense(m): 11:16am On Mar 10, 2020
They are very dumb, they are still thinking in outdated ways.

MotiveU:
America has become the number one oil producer in the world and is expected to pump about 13 million barrels a day in the first quarter of this year.
Trump went to India the other day to discuss what?
World leaders are calculating and forming alliance our own is planning to borrow and later re-loot it.
Re: Why Oil Prices Are Crashing And What It Means by MotiveU(f): 11:19am On Mar 10, 2020
America has become the number one oil producer in the world and is expected to pump about 13 million barrels a day in the first quarter of this year.

Just the other day Trump visited India on a state visit to discuss what.
And India been one of our crude oil buyers after China.
Other world leaders are strategies and forming alliance to grow there economy our government is bent on borrowing to re-loot.
Re: Why Oil Prices Are Crashing And What It Means by shumuel(m): 11:20am On Mar 10, 2020
IMASTEX:

Agreed. Nigerians have not bordered the politicians since because they believe crude oil money isn't theirs since it wasn't taken directly. But wait until they start paying heavy taxes & the politicians want to maintain the same lifestyle, that is when the action film will start. For me, I won't feel okay paying even 1 Kobo as tax knowing fully those criminals will loot it. And I still would be okay paying 99% as tax abroad.


grin You speak as if you would have a choice, This is Nigeria, who would listen to you or come to your aid,, do you even realise a whole Emir has just be dethroned by a politician ?

Has we speak every account most be link to a TIN: Tax Identity Number, why do you think they are doing that, well FYI, your money would be deducted and you would only shout & Cry, what else would you do, Arrest or Sue ? Who excatly ! Your Bank, Governor or President ?

If you ask me, i would pray ernestly that Crude oil does not fail, coz contrary to your belief, it is we the Citizens that would suffer the greatest HIT.
Re: Why Oil Prices Are Crashing And What It Means by SeriouslySense(m): 11:20am On Mar 10, 2020
Our leaders are not leaders, they are there to gain our praises and adoration, while they loot and oppress the people
Re: Why Oil Prices Are Crashing And What It Means by xmocrew(m): 11:23am On Mar 10, 2020
CokeBar:
Not trying to be anti-Nigerian but it would make sense if Naira crashes abit cheesy
Awon ti work on online. Well done Mami.
Re: Why Oil Prices Are Crashing And What It Means by anonimi: 11:26am On Mar 10, 2020
ITbomb:

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



www.nairaland.com/attachments/2186280_buhari2blaugh1_jpegc35d9ea4e30142f9302718e17f58f220

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Re: Why Oil Prices Are Crashing And What It Means by anonimi: 11:27am On Mar 10, 2020
SeriouslySense:
Our leaders are not leaders, they are there to gain our praises and adoration, while they loot and oppress the people



www.nairaland.com/attachments/2174510_nigeriansmobmentality_jpegd710c25fa577a4f0fb35da579ff1eb3d

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Re: Why Oil Prices Are Crashing And What It Means by SeriouslySense(m): 11:31am On Mar 10, 2020
You are right, the problem is the people way of thinking, they praise looters and worship their leaders, no questions are asked, they are blind followers
anonimi:




www.nairaland.com/attachments/2174510_nigeriansmobmentality_jpegd710c25fa577a4f0fb35da579ff1eb3d

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Re: Why Oil Prices Are Crashing And What It Means by obailala(m): 11:36am On Mar 10, 2020
IMASTEX:
The Nigeria politicians should be the worse hit because that is their looting money. Other Nigerians only read crude oil funds on papers
Politicians who already have enough funds to feed their 3rd generations are the ones you think would be affected most by oil price? When govt revenue drops and teachers in even primary schools can't be paid salaries, I guess it's the politicians that would suffer it.
Re: Why Oil Prices Are Crashing And What It Means by Akpan107(m): 11:37am On Mar 10, 2020
TOPCRUISE:
I taught Corona is the cause of the crash
It's not "directly" the cause, but it's also the cause.
Re: Why Oil Prices Are Crashing And What It Means by Nobody: 11:45am On Mar 10, 2020
mujiboy:
Naira will crash soon again ..
Not only naira but also all currencies if the issue of corona virus is not sorted out. And the world will be sent back to barter days. All I see is doom if corona virus becomes out of control.
Re: Why Oil Prices Are Crashing And What It Means by RapistOnBail: 11:51am On Mar 10, 2020
irepnaija4eva:
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..
yes, the Electricity, road rehabilitation and strengthening security would lead to creation of businesses like Real estate, petroleum stations, 5 star hotels, and other multi million naira companies that would make up the 22.5b$.

I hope tho.
Re: Why Oil Prices Are Crashing And What It Means by InvertedHammer: 11:51am On Mar 10, 2020
/
We need naira at N500 per US dollar.


\
Re: Why Oil Prices Are Crashing And What It Means by macjireh: 11:52am On Mar 10, 2020
deolurexy1:
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!
and where did u get ur info from?
Re: Why Oil Prices Are Crashing And What It Means by paix(m): 12:00pm On Mar 10, 2020
Sultty:
I want oil to be rendered useless so useless in price grin since Nigerian leaders refuse to receive sense and are so proud I'll like to see what's left of them
They won't feel the pinch cos they have stolen enough to enable them to relocate to Afghanistan.
Re: Why Oil Prices Are Crashing And What It Means by ebuclassic18(m): 12:00pm On Mar 10, 2020
And the visionless President is talking of borrowing at the current situation
Re: Why Oil Prices Are Crashing And What It Means by CokeBar(f): 12:01pm On Mar 10, 2020
xmocrew:

Awon ti work on online. Well done Mami.

Lol, what to do! cheesy
Re: Why Oil Prices Are Crashing And What It Means by Nobody: 12:12pm On Mar 10, 2020
Karrima:
Any country that depends on oil go soon hear am.
Re: Why Oil Prices Are Crashing And What It Means by dejisilva(m): 12:23pm On Mar 10, 2020
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Re: Why Oil Prices Are Crashing And What It Means by DexterousOne(m): 12:34pm On Mar 10, 2020
CSTR2:
I expect the comments here to be few and far between.

Nigerian are not as intelligent as they think.

Interesting stuff
Re: Why Oil Prices Are Crashing And What It Means by DAVE5(m): 12:37pm On Mar 10, 2020
IMASTEX:
The Nigeria politicians should be the worse hit because that is their looting money. Other Nigerians only read crude oil funds on papers

Nah end user go face the heat, all the politicians need to do is; raise taxes, we grumble as usual, then pay the increase anyways

The man on the street is fvcked whichever way stuffs go

Price per barrel goes up, we suffer due to subsidy
Price per barrel goes down, we suffer due to low price and increased taxes
We have tired for naija leaders, no favourable economic structures at all

Dullard and greedy folks ruling us
Re: Why Oil Prices Are Crashing And What It Means by DexterousOne(m): 12:50pm On Mar 10, 2020
Larryhoover:
It is obvious the decline in oil price is due to power tussle between Russia and Saudi, they only saw the coronavirus as an avenue to make excuse for their actions.

Exactly
Re: Why Oil Prices Are Crashing And What It Means by IMASTEX: 12:59pm On Mar 10, 2020
shumuel:


grin You speak as if you would have a choice, This is Nigeria, who would listen to you or come to your aid,, do you even realise a whole Emir has just be dethroned by a politician ?

Has we speak every account most be link to a TIN: Tax Identity Number, why do you think they are doing that, well FYI, your money would be deducted and you would only shout & Cry, what else would you do, Arrest or Sue ? Who excatly ! Your Bank, Governor or President ?

If you ask me, i would pray ernestly that Crude oil does not fail, coz contrary to your belief, it is we the Citizens that would suffer the greatest HIT.
The high rate of crime is already an indication of bad governance, the unbearable living conditions & unlawful agitation. Soon others will start lawful agitation of various kinds when hardship becomes unbearable. Outside that, I do personally have lots of choice man. I can simply liquidate my businesses & assets and relocate with my family to where life makes meaning, then startup a business over there. Just as lot of my guys have already done & many are still doing.

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Re: Why Oil Prices Are Crashing And What It Means by tundess: 1:09pm On Mar 10, 2020
And whilst all this upheaval is happening Barkindo as OPEC Sec. Gen is bypassed and ignored by the world's global oil and gas players. He is not respected and his negotiation skills are ineffectual because they are non-existent. Of all the bright and able ppl in the O&G industry, GMB's admin chose to support a man whom Rilwan Lukman had jettisoned because he was notoriously corrupt. The Wikileaks cables below give an insight into how the industry views him.

https://wikileaks.org/plusd/cables/09LAGOS33_a.html

Nigeria's seat at the table of OPEC has long been relegated to invited bystander status. Diezani and her "Marie Antoinette" sensibilities towards our oil finally convinced the world that Nigeria had no strategic value beyond propping up American hegemony. Barkindo's reappointment to OPEC was merely confirmation of our unimportance. We are victims of global power play as much as countries who don't even have oil.
Re: Why Oil Prices Are Crashing And What It Means by pacespot(m): 1:23pm On Mar 10, 2020
Whenever you see Saudi Arabia holding meeting with Russia, believe it the global oil market is about to be shaken. That is basically the major alliance between the two countries.

So Iran is being targeted by USA with sanctions by labelling the country terrorist, we can see why the USA is so tough towards Iran in this report. USA is the largest oil producer in the world, how do you expect it to welcome Iran, a potential competitor, into the global market? But I bet many religion bigots don't see this.

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Re: Why Oil Prices Are Crashing And What It Means by Sultty(m): 1:29pm On Mar 10, 2020
paix:
They won't feel the pinch cos they have stolen enough to enable them to relocate to Afghanistan.
may they be bombed over there
Re: Why Oil Prices Are Crashing And What It Means by owoshuyi(m): 1:33pm On Mar 10, 2020
They're obsessed and fantasizing about 2023 election to power

MycroftHolmes:
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 lipsrsealed

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Re: Why Oil Prices Are Crashing And What It Means by deolurexy1(m): 1:42pm On Mar 10, 2020
macjireh:

and where did u get ur info from?


Am CIA dummy
Re: Why Oil Prices Are Crashing And What It Means by Mftivi: 1:56pm On Mar 10, 2020
These fundamental analysts always have explanations after the fact like everyone else can't see it too, lmao! These things don't drive prices in real time, at any point in time market is governed by human emotions and is never logical neither is it efficient. Oil can start spiking up in the near future even amidst all the bad news and they will still find a way to tell us why the bad news is now pushing prices up.

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