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Nairaland Forum / Nairaland / General / Business / Oil Price Hits $71.28 On OPEC's Decision (9668 Views)
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Oil Price Hits $71.28 On OPEC's Decision by Racoon(m): 7:20am On Mar 08, 2021 |
For the first time in 2021, the price of oil has risen to $71.28 per barrel in the international market, barely a few days after the Organisation of Petroleum Exporting Countries, OPEC, and non-OPEC members had resisted pressure to increase output.https://www.vanguardngr.com/2021/03/breaking-oil-price-hits-71-28-on-opec-decision/amp/ 1 Like
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Re: Oil Price Hits $71.28 On OPEC's Decision by Mynd44: 7:22am On Mar 08, 2021 |
Petrol prices to rise, oil companies to smile, the Nigerian government gets some financial reprieve, states collecting derivation funds too will. smile. 6 Likes |
Re: Oil Price Hits $71.28 On OPEC's Decision by Kebbiprince: 7:23am On Mar 08, 2021 |
Yet only the politicians will benefit leaving out the citizens. Funny enough the budget was made with oil price at 40$°.just wait and see how the excess of 30$ will be stolen 43 Likes 2 Shares |
Re: Oil Price Hits $71.28 On OPEC's Decision by HenryThegreat1(m): 7:24am On Mar 08, 2021 |
Things supposed to be thing of joy will now turn to thing of hunger, strike, protects, and hardship in Nigeria because of wicked and heartless leaders both past and present we have 18 Likes 3 Shares |
Re: Oil Price Hits $71.28 On OPEC's Decision by lilvicky68(m): 7:25am On Mar 08, 2021 |
Even if it hits 100$ per barrel..them go still dey borrow money from other countries..wicked politicians 32 Likes 1 Share |
Re: Oil Price Hits $71.28 On OPEC's Decision by tishbite41(m): 7:25am On Mar 08, 2021 |
More money to be stolen! 3 Likes 1 Share |
Re: Oil Price Hits $71.28 On OPEC's Decision by gambia(m): 7:25am On Mar 08, 2021 |
Let's wait and see the outcome of all these grammar. FG will still end up borrowing funds to finance 2021 budget, that's the bottom line. 12 Likes 1 Share |
Re: Oil Price Hits $71.28 On OPEC's Decision by Jerryherd: 7:25am On Mar 08, 2021 |
Biden and Democrats are intelligent, they understand crude oil economics unlike the orange buffoon called Trump that flooded the market with crude oil making it almost worthless, opposing every move of OPEC If not for corruption, Nigerian's excess crude account and foreign reserves should increase . 4 Likes 1 Share |
Re: Oil Price Hits $71.28 On OPEC's Decision by festacman(m): 7:25am On Mar 08, 2021 |
Good news but FG MUST NOT allow the pump price of petrol to rise because prices of things will skyrocket out of control and it will SCATTER whatever is remaining of our post-COVID-19 fragile economy. What shall it profit anybody to insist on deregulation to impress World Bank and IMF at this critical time and make life tougher for people. NNPC should apply the "underrecovery" stuff while we buy time for for Dangote refinery and other refineries to roll out. 2 Likes 1 Share |
Re: Oil Price Hits $71.28 On OPEC's Decision by Angelawhite(m): 7:25am On Mar 08, 2021 |
Buhari ! Buhari !! What’s your excuse this time. 3 Likes |
Re: Oil Price Hits $71.28 On OPEC's Decision by Nobody: 7:25am On Mar 08, 2021 |
Won't benefit us 1.We still have to pay off the debts incurred when oil prices were lower than $50 and below.... 2.Also, the oil price isn't up to our breakeven price...the price at which we can earn enough to maintain a balanced budget. For Nigeria it is $133 dollars. 3.That's why your government has to diversify, and also save money by ending payment of saubsides and such 9 Likes 1 Share |
Re: Oil Price Hits $71.28 On OPEC's Decision by Nobody: 7:26am On Mar 08, 2021 |
The world is healing gradually But will our government make use of this Will they continue to steal |
Re: Oil Price Hits $71.28 On OPEC's Decision by DrBrainstorm(m): 7:27am On Mar 08, 2021 |
Steady cashout loading... 5 Likes 1 Share |
Re: Oil Price Hits $71.28 On OPEC's Decision by maurizjavah(m): 7:27am On Mar 08, 2021 |
Dangote to make more money. NIGERIA money st divide. south south must go |
Re: Oil Price Hits $71.28 On OPEC's Decision by ThatFairGuy: 7:27am On Mar 08, 2021 |
WOW. Fuel price hike looming Godarz:I can't stop hmmming Rebuke:I did |
Re: Oil Price Hits $71.28 On OPEC's Decision by Rebuke: 7:27am On Mar 08, 2021 |
Hmmmm. It's all about them and we all know it. We can only just be happy for them but the masses might not benefit from it. I bought fuel at 170 per litre over the weekend. Some are even selling above that. They are making more profits in the international market which should ordinary help reduce the price for it here but na, we are still paying more. Whatever magic the PDP did that saw us buying fuel between N80 - 90 must be a very good one. Just don't come to tell me how high crude oil was during their tenor. They obviously had more right thinking individual than these present dumb and clueless administration. Everything is on the rise. Imagine common salt that was always low in price no matter what, now has also risen in price under this present government....just to tell yhu how terrible APC is doing. Tell me one item or food products that have not increased in price under Buhari government. 8 Likes 1 Share |
Re: Oil Price Hits $71.28 On OPEC's Decision by Monogamy: 7:27am On Mar 08, 2021 |
Re: Oil Price Hits $71.28 On OPEC's Decision by Udodiri01: 7:28am On Mar 08, 2021 |
Hu |
Re: Oil Price Hits $71.28 On OPEC's Decision by salbis(m): 7:28am On Mar 08, 2021 |
Las las na #200/liter official price we go pay. |
Re: Oil Price Hits $71.28 On OPEC's Decision by aremuforlife(m): 7:28am On Mar 08, 2021 |
This is more money for Nigeria and Nigerians, though, the price of PMS will adequately go up. |
Re: Oil Price Hits $71.28 On OPEC's Decision by Kingjay007: 7:28am On Mar 08, 2021 |
Good news. At least they can fund some things now without selling assets or borrowing from pensions and dormant accounts. 1 Like |
Re: Oil Price Hits $71.28 On OPEC's Decision by Racoon(m): 7:28am On Mar 08, 2021 |
This is really a welcoming development but this will never stop the clueless and incompetent government from chronic borrowing & debt pillage. |
Re: Oil Price Hits $71.28 On OPEC's Decision by Rebuke: 7:29am On Mar 08, 2021 |
Re: Oil Price Hits $71.28 On OPEC's Decision by DonHummer(m): 7:29am On Mar 08, 2021 |
I swear this buhari government is useless, oil price has been increasing, yet there is no significant positive effect on dollar exchange rate. |
Re: Oil Price Hits $71.28 On OPEC's Decision by sheddyboy01(m): 7:30am On Mar 08, 2021 |
Good news.... For 9ja.
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Re: Oil Price Hits $71.28 On OPEC's Decision by Nobody: 7:30am On Mar 08, 2021 |
ThatFairGuy: The government has no money to spend on subsides. Recall that since 2014, oil has dropped to very low levels in the years since. We have had to take loans to keep our heads above water as a result. The loans must be paid back, and part of that oil money goes to paying the loans Plus, it isn't hhgh enough for Nigeria. We need it to be above $100 before we can even think of breahting easier. 1 Like |
Re: Oil Price Hits $71.28 On OPEC's Decision by ThatFairGuy: 7:30am On Mar 08, 2021 |
lilvicky68:Exactly. If GEJ could borrow to pay salary at $100 and above per barrel, it won't be surprising 2 Likes |
Re: Oil Price Hits $71.28 On OPEC's Decision by Nobody: 7:30am On Mar 08, 2021 |
salbis: It is a better option than spending billions on subsidisng fuel, and getting into more debt doing so. |
Re: Oil Price Hits $71.28 On OPEC's Decision by The5DME(m): 7:31am On Mar 08, 2021 |
This country won't get better anytime soon. 1 Like |
Re: Oil Price Hits $71.28 On OPEC's Decision by veekid(m): 7:31am On Mar 08, 2021 |
Vision 2021 |
Re: Oil Price Hits $71.28 On OPEC's Decision by teejet: 7:33am On Mar 08, 2021 |
To those of us jubilating the increase in price of oil, you'd better watch it. The excess of almost $30 over the benchmark is an opportunity for the looters to loot more. No reprieve. No mercy. More so with 2023 around the corner. 2 Likes 1 Share |
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