₦airaland Forum

8 factors behind the fall in oil prices Arab News | Published — Tuesday 20 June 2017 JEDDAH: The Organization of the Petroleum Exporting Countries (OPEC) and its allies from outside of the group last month extended a deal to curb their production by 1.8 million barrels per day (bpd) for another nine months, ending in March 2018. In spite of that agreement, oil prices are still weak and they are trending down for four weeks in a row. Here are eight factors that are behind the current fall in oil prices: 1. High exports from OPEC: Despite the reduction in production from oil producers, the level of exports is still high as many tanker-tracking data showed. Morgan Stanley in a report on June 8 said that tanker-tracking data showed that waterborne exports increased strongly in May across the world, up by 2.2 million bpd from April and 3.3 million bpd from May 2016. 2. High global oil inventories: Saudi Energy Minister Khalid Al-Falih told Arab News’ sister publication Asharq Al-Awsat in an interview on June 19 that oil inventories globally are down following the deal. The Organization for Economic Co-operation and Development’s (OECD) oil stocks went down by 65 million barrels from their peak in July 2016. However, Al-Falih acknowledged that US stocks are falling less than expected. As for the market, the fall in inventories is too slow to trigger a price response. The International Energy Agency (IEA) estimates that oil stocks in the OECD are still at 292 million barrels above their five-year average. Energy researcher Bernstein estimates that US stocks must go down by 4 million barrels every week for it to go back to normal levels. 3. Concerns on gasoline demand: The outlook for US gasoline consumption this summer is a concern. Gasoline stocks rose 2.1 million barrels and gasoline inventories currently sit at 242.4 million barrels, or 9 percent, above the five-year average of 223 million barrels, according to the US Energy Information Administration (EIA) data. 4. Increase in the number of rigs: The number of US oil rigs is continuing to rise. Drillers added more oil rigs for a 22nd straight week, marking the biggest streak in at least three decades, according to weekly data from Baker Hughes released on June 16. 5. Worries about supply in 2018: The IEA said in its report on June 14 that supply from non-OPEC producers next year may offset cuts from OPEC and its allies. Oil demand is set to grow by 1.4 million bpd in 2018 but supplies outside OPEC will grow even faster, by almost 1.5 million bpd. 6. Oil prices in contango: Brent and West Texas Intermediate (WTI) crudes, down almost 15 percent since late May, are both trading in contango, with forward prices higher all the way into the next decade. Contango is a structure that normally denotes weak demand for spot cargoes as it means oil prices in the future are higher than today’s, thus it makes producers store crude for future sale. 7. Return of oil output from Libya, Nigeria: Libyan oil production this week is up by 200,000 to 300,000 bpd from early May. Nigeria is also pushing for an additional output of 200,000 bpd this month. The market is concerned that this will add to oversupply, but Al-Falih said on June 19 that the increase is within agreed limits set by the original deal last year. 8. Speculation: Al-Falih blamed volatility in oil prices on speculative trading as many are trading on headlines and on forecasts of supply growth from resources “that may not happen.” sources:www.arabnews.com/node/1117541/business-economy

where are you when igbo start hate speech since 1970 about north but nothing was doing until now when arewa youth said your should go because they can,t tolerate your hate speech.

i am proud to be a muslim and i would like to study christian religious morethan what i know, why always you christian fear other religious if you know your religious is true nothing i can fear about.

so fulani are not nigeria, they can,t go any where they like.

where is seun, stop rearing a dog, or we called you inverder

please leave fulani alone, leave north alone, only fulani can commit crime in nigeria, other tribe can not commit crime, fake news and your ideology will not success

Fake rule 2. Don't abuse, bully, deliberately insult/ provoke, fight, or wish harm to Nairaland members OR THEIR TRIBES. 3. Don't threaten, support or DEFEND violent acts against any person, tribe, race, animals, or group (e.g. rape).

this is the true meaning of jahad

first what we need is to remove fake news,second change your rule number 2 and 3,because is not fair to my tribe fulani at all, third add dislike button and created app for nairaland like jammiforums.com there app are in googleplay thank you.

Moderator what is wrong with you, we see this thread saveral time on front page.

rookidmart:
Select where it says "Colour" You'll see various options that explains the price range. E.g the gray Colour might be more expensive than the white colour. There are also options to add a TF card, earpiece, film case, etc.

thank you.

Please what is the price of rn3 pro in aliexpress, i see $157 -204, is 157 the actual price or 204.

crestedaguiyi:
Arrogant and myopic exhibition of stupidity

you will never achieved what you want.

Thank God. Some People are Still Sensible
Someone, Uche Ezechukwu, wrote:
"You now see why the Catholic Church quit CAN where fire spitting clowns masquerading as men of God hold sway. My blood chilled after listening to the hate that Pastor Suleiman of Omega Ministries was spewing out.
"Kill any Fulani you see", a so-called Christian pastor told his congregation. My driver is Fulani and he takes me everywhere at every hour, to everywhere in Igboland, to my village where he mixes with everybody and is loved by all. I should kill him? Christianity indeed! Ndi ara"
Uche Ezechujwu.

Sources:
https://mobile.facebook.com/story.php?story_fbid=1399215460120400&id=100000958797853&refid=17&_ft_=top_level_post_id.1907290746161008%3Atl_objid.1907290746161008%3Athid.100006403034064%3A306061129499414%3A2%3A0%3A1485935999%3A-4218881485656368355&__tn__=%2As

Sources:
https://mobile.facebook.com/story.php?story_fbid=1404118946296718&id=100000958797853&refid=17&_ft_=top_level_post_id.1907289402827809%3Atl_objid.1907289402827809%3Athid.100006403034064%3A306061129499414%3A2%3A0%3A1485935999%3A-9192627164729967449&__tn__=%2As

The North Cannot Be
Instigated to War
A letter from the
Acting Registrar KSCOE
Kafancan refuted that 5
students were
ambushed and killed by
herdsmen on their way
to Gidan Waya campus
some days back and
wondered why even
'reputable' papers would
carry such stories when
the college is not even
in session. Mr Samuel
should not wonder
because some people
are instigating war in
the North. But they will
fail woefully.
I think those defeated
in Biafra should realize
that Gowon's defeat
was decisive and final.
One Nigeria is here. This
attempt at revenge
through incitement
cannot turn the clock of
reality. Meanwhile, do
not forget that Gowon
is not a herdsman.
I repeat: We
northerners can have
our challenges, even if
instigated or amplified
by outsiders. But we
are not stupid enough
to got to war over
them. We will come out
stronger, to the shame
of enemies who want
to see the region in
conflagration.
Let these defeated
war-mongers visit
Plateau today and see
how Fulani herds are
grazing in Riom and
Shendam. Even with a
state government that
sponsored an agenda of
hatred and massacres
for 8 years, our eternal
resolve for peaceful
coexistence could not
be broken.
It is through this kind of
propaganda that
innocent souls in the
south are made to
believe that there is a
rampaging battalion of
herdsmen that is killing
thousands of Christians
in southern-Kaduna and
against which the
Christians are incited to
take up arms.
And they blame
government for not
doing anything. How can
government act on
mere propaganda? The
present IG went on a
fact finding mission in
Southern Kaduna two
weeks ago and came
back telling the media
to stop the
exaggeration.
It is not the first time.
At Agatu, Arase, the
former IG, asked to be
shown the graves of
the 300 Agatians killed
by herdsmen. All he
could be shown was
graves of 3 people!
Today, the Agatians
have freely allowed
Fulani to continue
grazing on their land.
Shame to the liars and
Devils that pray for
bloodbirth in the North.
More is awaiting these
bad losers. We
northerners will come
out of the southern-
Kaduna crisis stronger.
Our people will not
suffer war while you
smile from 500 km east
or 1000 km southwest
of Kafanchan. Soon, it
will be like it has
become in Plateau and
Benue. God is on the
side of peace lovers.
The 'fire' pastor and his
ilk will live in frustration
and hell forever.
And take note that
these demons and
criminals will never spoil
the good image of
thousands of
southerners whom we
have come to associate
with and love for
several decades now.
Nobody can tarnish the
image of Madame Rose
from whom I buy my
plumbing materials, or
PD from whom I buy
my industrial mechanical
parts. Not to mention
my old friendship with
Professor Ezealor in
Owerri or Mr. Chidi in
Umudike. Vanguard
cannot severe these
ties no matter its evil
efforts.
Neither can it break my
nearly 40 years
relationship with Prof.
Iortsuun, my former
Tiv (thief) lecturer from
Benue. I missed her
when I visited her
office in Zaria
yesterday. I called her
and she told me how
much she missed me.
Does any southern or
eastern newspaper
think I will ever take up
arms against this
northern jewel simply
because she is
Christian? In the
contrary, I am ready to
defend her with my
blood in appreciation of
the exceptional love she
showed me over the
past four decades as I
will defend Serah, Faith,
Felicia, Gida, Drambi, etc.
I can fill hundreds of
pages with the stories
of my Christian friends
from Northern and
Eastern Nigeria. The
dream of someone that
he can just instigate
war among us while he
enjoys his bed in Enugu
or Lagos remains just
what it is - a dream.
When the chips are
down, we from the
North - Christians and
Muslims alike - know
that we share a
common name that
others refer to us with
- northerners. We know
that in our eyes we all
carry that same tag
irrespective of our
religion. And we are
proud of to anwer our
father's name. And let
us be frank. I am sure
they are intelligent
enough to know that at
the sub-national level,
they too have a tag
that they carry, with
which we northerners
refer to them,
irrespective of whether
we are Christians or
Muslims.
Now, I will give a piece
of advice to people like
Pastor Oyedepo who is
advising that the
country be divided
between Christians and
Muslims (forgetting
that his village,
Omuaran, is in a muslim
majority state),
Apostate Suleiman,
SSCE (yes that is his
qualification) and
southern newspapers,
that they should preach
peace and desist from
courting violence, for
violence can smell its
instigator from afar and
overtake him wherever
he is, no matter his
position in society or his
detachment from the
scene he depicts it.
We once had someone
in Nigeria, a highly placed
person, a governor in
the Second Republic, a
SAN, who was referring
to Fulani as Tutsis of
Nigeria, publicly
instigating a genocide
against them in the late
1990s. He died with his
wish unfulfilled.
Instead, Bola Ige, did
not have the privilege to
die a natural death. Even
as the Minister of
Justice and Attorney-
General of the
Federation, the nemesis
of violence visited him
one evening in his
house. He was served
some bullets by one of
his own, not by a Fulani
herdsman. And to date,
nobody is convicted for
the crime. He became a
variable to neutralize in
the 2003 second tenure
algebra of someone, his
own kind, not a Tutsi
Fulani for that matter.
Moral: Do not wish
bloodshed for some
people because it will
boomerang on you.
Apostate Suleman, the
coward, can run from
the SSS and enjoy the
protection of another
equally criminal
personality. However,
he cannot run away
from the nemesis of
violence when it
reckons to visit him one
day.
I must confess to the
Roses and Ezealors of
my life that I write
these posts with so
much pain and do so
only because it is
inevitable today. My pen
cannot afford the
luxury of political
correctness under the
situation. We can not sit
back and allow some
people to instigate
bloodshed among in the
North. We must check
them by all means
through revealing their
machinations and make
our people dispel them.
The life of a single
Christian or Muslim in
southern Kaduna is so
priceless to me as a
northerner that I just
must protect it with
my pen. Please do
understand.
Aliyu U. Tilde
27/1/17[left][/left]

Fulani are beautifull anywhere they are.

What i want people to understand is that,in every tribes there are bad people.

opal4real:
Na wao! So that picture posted by Kaka of some armed robbers caught in Rivers is what your empty skull claim is an igbo guy in kaduna? You and mo.ronic crew are buying the narrative of el rufai d midget that Niger deltans are the fulani herdsmen.
Your I.Q is lower than that of a basic1 pupil.

please tell the truth if you are god christan,in islam, you can,t tell people lie about what you don,t know abou if you are truly real muslim,and i want to ask you why this is not happening in northern kaduna.

stonemasonn:
Cow worshipping coward

i am whrshipping allah alone,there is no god but allah and prophet muhammad is his massenger to all human.

Coolgent:
Fulani are the most wicked people in Nigeria

your mother and father are wicked,and entire igbo generation Bleep biafara. Proudly fulani

Oguguolouis:
is it strong decoder?

yes

omotech:
I need freesat v7 combo, where can I get it & how much is it? pls any1 that know it should help thanx

contact ayoola at peacesat.com or buy it at aliexpress

yawwilson:
The picture quality of 4.04p for 4950H is very impressive and.with the new video systems (H .265) of new movies which our receivers can't play right now, and with Sameer and WizKid in the know ,we do anticipate an aggressive development in that field ....so long. every body!!!!

it open sport 24 at west.