₦airaland Forum

https://www.youtube.com/watch?v=4MkO5JX2btE?si=3udjlJluL7GrJBu2

The United Arab Emirates (UAE) is quitting the Opec and Opec+ groups of major oil producing nations next month after nearly 60 years of membership.

The UAE said its decision would help it meet growing global energy demand in the long term after recent investments to boost its production capacity.

It is seen as a blow to the cartel, with one analyst describing the exit as "the beginning of the end of Opec".

The Gulf state's energy minister said being a country with no obligation under the groups would give it more flexibility.

The UAE's departure represents a win for US President Donald Trump, who has previously attacked Opec for "ripping off the rest of the world". In January he asked Saudi Arabia and other Opec nations to "bring down the cost of oil" and doubled-down on his threat to use tariffs.

It also opens the door for closer ties between the UAE and US.

And Saul Kavonic, head of energy research at MST Financial, said it was "the beginning of the end" for the alliance.

"With the UAE leaving, Opec loses about 15% of its capacity and one of its most compliant members."

https://www.bbc.com/news/articles/cj4pxwlr52yo

Wow! Interesting times ahead.

On the instructions of the Masters😂

Nice one. The good step in the right direction

Donald Trump is a gift from God to the world.

clusay:
Nice one. The good step in the right direction

Since you said it a good step pls can u pls explain it to us that dont understand in a layman term sir.

keemsleek:
Since you said it a good step pls can u pls explain it to us that dont understand in a layman term sir.

dont mind these fo*ls of what benefit will that be to him in his wretched shithole country that only export oil.

they aren't the only ones that have oil,
we have oil too but their kinds in Nigeria the northern part, want to take over it

nigeria will be last to leave

OPEC still dey exists??...Chai current affairs and social studies that year....

Nice one UAE!

Angola left in 2024.
Ecuador left in 2020.
Qatar left in 2019.



When are we leaving?

Some idiots were saying that the US is no longer in a position to dictate nation`s policies quoting delusional iranian fools who have lost all their leaders, millitary, navy, nuclear scientists and even their economy and are still claiming to have won the war.

This one that we are not meeting our BPD quota how are we going to benefit

Every country should be able to stand on its own without interference. For Nigeria, there’s a lesson here. Beyond just being a member of alliances, the real focus should be on strengthening local production capacity, refining, and energy infrastructure so we’re not overly dependent on external decisions.

Independence only works when the fundamentals are strong. That’s where the real work is.

Nothing and absolutely nothing lasts forever.

America will always win because their good outweighs their bad unlike others.


America will rule the world till Jesus Christ returns, they only need to work closely with Israel and other willing European countries to build allies in Africa and we are so willing to become their number one ally.



Death to OPEC, it has outlived its usefulness just like the United Nations

Ibedun
Where are you?
Why is Nigeria fooling Itselt with OPEC?
Let us leave OPEC and pump 10 million barrels per day, sell and let Tinubu squander the money.
It's better than borrowing cash with future production of crude oil ( oil still restricted by OPEC quota) or borrowing cash from IMF/China Eximbank/ADB for stomach infrastructure.
Only a f.o.o.l. like Tinubu will shout on day 1 that subsidy is gone, instead of saying OPEC is gone.
Only a f.o.o.l. like Tinubu will say he wants to increase government revenue by taxing the unemployment capital of Africa.
Only a f.o.o.l. and a 1st class accountant like Tinubu knowing fully well that all Nigerians are affected by fuel has decided not to go and borrow to build a refinery or build a Federal reserve for refined products but will borrow to build roads which over 75% of Nigerians will die without ever traveling on that road, meanwhile fuel affects everyone from North to South, East to West.
Leave OPEC, pump more oil, sell with increased oil revenue, embezzle and buy your bullion vans, no wahala, but just STOP BORROWING!!!!

keemsleek:
Since you said it a good step pls can u pls explain it to us that dont understand in a layman term sir.

Low energy cost. Lower transportation cost.

Brendaniel:
Same thing I have been saying that Nigeria should have pulled out a long time ago..., why would an organisation be dictating how to sell your product?

ok tell us if everyone pulls out and no moderation of the price of crude, do you think it will benefit nigeria who couldnl not rise up during this crude scarcity caused by hormuz where it should have taking advantage of the price and make billions is going to benefit magically from dissolving of opec.
if anything its the americans who wants crude prices to fall who will benefit when crude becomes worthless while your shithole country who depends only on oil export will pay the ultimate price.

With crude pouring into the market ad libitum, the choke hold of the opec cartel on production quota is over.

Venezuela: US controlled
UAE : unhinged
Russia: Sanctions lifted

Oil will flow freely and the price will definitely crash to below $40pb

This will be a mix blessing for Nigeria though.

Government revenue will plummet and budget deficit will escalate beyond current levels. Govt. Will resort to more borrowings to fund recurrent and capital expenditures. The external reserve will dwindle and the naira will see shege pro max in "losing weight"

On the flip side, the cost of petroleum products will be cheaper than current rates .

The wise Investors are already taking position with this news in dollar instruments.

Tjra:
Donald Trump is a gift from God to the world.

That god must be Hades.
xxxxxxxxxxxxxx

Bad news for Nigeria.

UAE will now be free to pump as much oil as they want

That means oil prices will crash drastically

And that will expose us as the poorly run broke ass nation that Tinubu and Buhari failed to diversify the economy

This must be the iran Effect, I guess

Iran I really winning this war oooh

America is actually a world power, if I am the Iranian leadership, I would come to terms that I have been defeated

You see that blockage, Iran go cry, infact, e go get time way people go forget say Iran actually get oil

Tjra:
Donald Trump is a gift from God to the world.

Only a fool will argue this. Trump should please reason Nigeria next. Make madness stop for the country.

This would make more sense if they quit selling their crude oil in dollar as well to end petrodollar regime

Brendaniel:
Same thing I have been saying that Nigeria should have pulled out a long time ago..., why would an organisation be dictating how to sell your product?

UAE pulling out means they can pump as much oil as they want to

That means that oil prices will fall and that means that your country would be broke

Thanks to Tinubu and Buhari for not diversifying the economy and also thanks to GEJ , Yar'Adua and Obasanjo and all our past leaders for also not diversifying the economy

Whatever works best for them..

🤣😂🤣😂🤣


Interesting times!

Qatar’s will be next!

Saudi will be the last meal!