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Nairaland Forum / Nairaland / General / Politics / Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic (57333 Views)
Oil Price Wasn’t $100 Per Barrel From 1999 - 2019 As Buhari Said (Fact Check) / National Grid Collapses To 40mw Again / Oil Price Hits $90 Per Barrel For First Time Since 2014 (2) (3) (4)
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Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Barezzi(m): 5:46pm On Apr 20, 2020 |
The bolded is the current reality!! If this madness continues till June/July, then very serious wahala go dey. If you have dollars, guard it with your life! Spend only on basic needs at this time. sassysure: |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Commanderinpips: 5:47pm On Apr 20, 2020 |
It is trading at $10/barrel already. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Barezzi(m): 5:53pm On Apr 20, 2020 |
That's not Nigeria's crude. Bonny light crude is what we sell and it's currently trading at $22. Commanderinpips: 3 Likes |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by DabuIIIT: 5:53pm On Apr 20, 2020 |
Corporate2020: Shut up. We wish the oil dries up....then we will see how parasites will manage their parasitic lives 2 Likes |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Nobody: 5:54pm On Apr 20, 2020 |
sassysure: There's no them, they're part of us, we voted them in and will pick another stupid group in the next election. It's us the people with low iq, if we go by averages. 3 Likes |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Roon9(m): 5:54pm On Apr 20, 2020 |
haywire07: People in government dont understand this your grammer sir. Quite sad |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by DabuIIIT: 5:54pm On Apr 20, 2020 |
Corporate2020: Good....how lovely it would be to see them trekking to aso rock and govt houses when there's no light to power their govt luxurious cars |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by TheAlchemist: 6:00pm On Apr 20, 2020 |
Barezzi: If you have dollars don't guard it with your life... simply get out of the country...because the million boys are not smiling. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by unikwa: 6:02pm On Apr 20, 2020 |
Oil has been a curse for the common Nigerian. Ajaokuta steel complex was estimated to employ about 500,000 Nigerians. Shagari started it, then Obasanjo, Yar'adua, Jonathan, all failed to get it working. Easy oil money made them abandon the project, which has been 98% complete for almost 40 years. We've been importing 10 million tonnes of steel ever since with foreign currency. Imagine how many Trillions of Dollars Nigeria could have made if Ajaokuta had been operating for 30 years. South Korea, and India had a replica steel plant, also built by USSR. Theirs have been working for 30+ years. In fact, SK has increased their output from 10 million tonnes to 45 million tonnes per year. Kudos to Buhari for trying to resuscitate the project. He pumped $1 billion into it. Hopefully, they haven't embezzled that also. 2 Likes 1 Share |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Hugo7(m): 6:03pm On Apr 20, 2020 |
Corporate2020:I agree with you This period was well planned they are trying to eliminate crude oil totally. it is all part of Asia's plan. The earlier Nigeria realizes that crude has become worthless the better. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by nedekid: 6:10pm On Apr 20, 2020 |
BrilliantGigolo:To be fair on him, he took a huge risk investment wise. Besides a lot of white hair, leaness and quick aging, using "mild" disruptions, it has not been rosy. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by TruthSpeaker: 6:18pm On Apr 20, 2020 |
haywire07: THINGS DO NOT WORK LIKE THAT. OIL IS NOT SOLD LIKE GARRY IN THE MARKET THAT YOU TAKE EVERY DAY TO SEE IF ANY ONE IS INTERESTED IN BUYING. THERE ARE CONTRACTS ALREADY SIGNED FOR SALES IN SOME INSTANCES. BESIDES WHEN YOU DON’T SELL THE OIL, WHAT WILL BE OUR NATIONAL INCOME BEING THAT WE DEPEND HEAVILY ON CRUDE OIL FOR OUR ECONOMY? YOU PLAN TO DIVERSIFY YOUR ECONOMY OVER NIGHT BAH? 1 Like |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by dafemnet: 6:23pm On Apr 20, 2020 |
How do i buy an oil contract |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by codemaniacs: 6:24pm On Apr 20, 2020 |
zz 1 Like |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Nobody: 6:25pm On Apr 20, 2020 |
brandable: Dangote will make good money from africa at least |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by BananaPeel(m): 6:28pm On Apr 20, 2020 |
First, Italians threw money on the streets cos it couldn't help them and now crude oil price crashing to an all-time low. Money is failing |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Taywon: 6:34pm On Apr 20, 2020 |
Nigerians keep calm... Nothing new, we go survive am... But this depends on our leaders |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by yaki84: 6:47pm On Apr 20, 2020 |
haywire07:Automatically thousands of jobs would have to go. Hyper inflation set in. God save us |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Izigha(m): 6:49pm On Apr 20, 2020 |
Nairalandmonika:You wan help han, or you wan scam han join anyway he is selling recharge card under powerline in Aba |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by KaptainAfrika: 7:01pm On Apr 20, 2020 |
IT IS NOW $2 PER BARREL...HALLELUYAH! https://www.bloomberg.com/news/articles/2020-04-19/oil-drops-to-18-year-low-on-global-demand-crunch-storage-woes? |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Xandelle: 7:02pm On Apr 20, 2020 |
haywire07: To control their governments. He who pays the piper dictates the tune. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Zikar: 7:03pm On Apr 20, 2020 |
dawnomike: It's below $1 right now. 1 Like |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Xandelle: 7:04pm On Apr 20, 2020 |
Deepfeel:In other words, the whole country. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by dafemnet: 7:05pm On Apr 20, 2020 |
1 barrel of US OIL is now worthless.It could change later though. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by IMASTEX: 7:16pm On Apr 20, 2020 |
haywire07:Every of those in authority know exactly what to do but they will never do it. |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by silifx: 7:17pm On Apr 20, 2020 |
abi crude oil now $0 haywire07:
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Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Mcy56(f): 7:26pm On Apr 20, 2020 |
haywire07: @Op why not emphasize that it's WTI and not Brent? Some people don't know the difference and it's wrong to post wrong info just to trend. 1 Like |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by silifx: 7:28pm On Apr 20, 2020 |
1 Like |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by drololaaof: 7:29pm On Apr 20, 2020 |
One thing this post is saying was that Nigeria is going into recession but God redeemed the world after 1918 pandemic, the world did not crash as people are won't to believe ditto after 2nd world war. Nigerians be hopeful. No matter the news from economists ,news media political leaders ,foreign developed countries ALL WILL BE WELL, the Hebrews boys in the book of Daniel's were expected to die in fiery furnace and lion den they didn't die but live . The Europeans expected death toll to be higher in Africa but God say NO. Se shall overcome |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by mondbest(m): 7:31pm On Apr 20, 2020 |
haywire07: Well spoken but do you think this government have such intelligent person to educate them like this? |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by Obrigardo: 7:32pm On Apr 20, 2020 |
trumps fingers are all over this. At the same time, Shale Oil production is booming... What is in it for trump? The truth will surely come out someday. trumps hideous fingers is in all of these things happening, but like the morons many are, they will tell you black is white and white is gray |
Re: Oil Price Collapses To $11 Per Barrel Amid Covid-19 Pandemic by salford1: 7:32pm On Apr 20, 2020 |
asamaigho:Typo. 40GW or 40000MW is what I intended to write. But I like how you dodged the graph I posted. I will post it again. Don't pity my generation Abeg. I and many others are doing super fine. I thank God that we do need oil to survive. I used to work in the oil industry but left in 2015. Best decision ever.
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