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Nairaland Forum / Nairaland / General / Politics / Oil Prices Drops Below $50 -bloomberg (2581 Views)
Power Supply Drops Below 3,000MW Over Shortage Of Gas / Goodluck Jonathan Delivers A Speech At Bloomberg (Photos) / Niger Delta Militants Push Global Oil Prices To $50 – Highest In 2016 (2) (3) (4)
Oil Prices Drops Below $50 -bloomberg by Trailblazer1(m): 10:00pm On Aug 03, 2015 |
Oil’s Drop Below $50 May Be Just the Start as Demand Swoons U.S. refineries, which turned a record amount of crude into gasoline during July, typically slow down from August through October by Dan Murtaugh August 3, 2015 — 1:53 PM EDT Why Oil Prices Aren't Too Slick These Days Oil has fallen to a six-month low, and hopes of a quick rebound are fading as demand heads into an autumn swoon. Brent crude tumbled below $50 on Monday for the first time since January. Gasoline fell the most in almost three years. The slump may have further to go. U.S. refineries, which turned a record amount of crude into gasoline during July, typically slow down from August through October for maintenance. “We still have a lot of global oversupply,” Michael Wittner, head of oil-market research at Société Générale in New York, said on Bloomberg TV Monday. “We’re getting close to the autumn, [when] demand for crude and products hits a seasonal low point, so it’s hard to see where the uplift is going to come from.” Also, demand for gasoline typically eases after summer as the seasonal workforce shrinks and families stop vacationing. Hedge funds are growing more pessimistic. Money managers cut bets on rising Brent prices last week by the most in more than a year and are the least bullish on U.S. crude since 2010. http://www.bloomberg.com/news/articles/2015-08-03/oil-s-drop-below-50-may-be-just-the-start-as-demand-swoons Trailblazer1 reporting for bloomberg
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Re: Oil Prices Drops Below $50 -bloomberg by Trailblazer1(m): 10:01pm On Aug 03, 2015 |
I am still waiting for the Doro-Dullard of daura to stabilize the price of oil 9 Likes 2 Shares |
Re: Oil Prices Drops Below $50 -bloomberg by SenJoe(m): 10:02pm On Aug 03, 2015 |
. |
Re: Oil Prices Drops Below $50 -bloomberg by Adeyinka12(m): 10:02pm On Aug 03, 2015 |
Ok |
Re: Oil Prices Drops Below $50 -bloomberg by Keepshining(f): 10:02pm On Aug 03, 2015 |
$ |
Re: Oil Prices Drops Below $50 -bloomberg by hisprinceship: 10:02pm On Aug 03, 2015 |
Ff |
Re: Oil Prices Drops Below $50 -bloomberg by phyllosilicate(m): 10:03pm On Aug 03, 2015 |
If leakages are blocked, we would weather the storm. 1 Like |
Re: Oil Prices Drops Below $50 -bloomberg by Richie0974: 10:04pm On Aug 03, 2015 |
. |
Re: Oil Prices Drops Below $50 -bloomberg by rozayx5(m): 10:05pm On Aug 03, 2015 |
time for the waste to go back to cocoa 2 Likes 1 Share |
Re: Oil Prices Drops Below $50 -bloomberg by Mrbigman1(m): 10:06pm On Aug 03, 2015 |
The wall street and cia should stop this nonsense. Russia will never give up and those it mean we'll be like this for ever? This thing Saudi Arabia and Kuwait re doing could lead to 3rd world war. 2 Likes |
Re: Oil Prices Drops Below $50 -bloomberg by benedictnsi(m): 10:07pm On Aug 03, 2015 |
In senator Patrick's voice....... "I see the ship of Nigerian government, hovering around the sphare of Bermuda Triangle..... Of which if inadequate steps are not taken to meander the intactices of an insurable catalance, the ship of the Nigerian government will bathe into the aqua"..... 5 Likes 2 Shares |
Re: Oil Prices Drops Below $50 -bloomberg by Trailblazer1(m): 10:08pm On Aug 03, 2015 |
Re: Oil Prices Drops Below $50 -bloomberg by IVORY2009(m): 10:12pm On Aug 03, 2015 |
Its time to start running the country with proceed frm groundnut.. 2 Likes |
Re: Oil Prices Drops Below $50 -bloomberg by Nobody: 10:12pm On Aug 03, 2015 |
Trailblazer1:May it fall to 200 naira per barrel IJN 4 Likes
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Re: Oil Prices Drops Below $50 -bloomberg by Trailblazer1(m): 10:18pm On Aug 03, 2015 |
imhotep: Please, I don't mean the price of groundnut oil but crude oil 3 Likes |
Re: Oil Prices Drops Below $50 -bloomberg by Nobody: 10:19pm On Aug 03, 2015 |
Trailblazer1:I suggest that crude oil be cheaper than groundnut oil. 3 Likes |
Re: Oil Prices Drops Below $50 -bloomberg by AshiwajuFoward: 10:22pm On Aug 03, 2015 |
Time for the SE to return to Palm Oil plantations of old. 8 Likes |
Re: Oil Prices Drops Below $50 -bloomberg by 400billionman: 10:26pm On Aug 03, 2015 |
Trailblazer1: Okay |
Re: Oil Prices Drops Below $50 -bloomberg by atlwireles: 10:26pm On Aug 03, 2015 |
The forward curve price on crude oil is a ($50 average) through 2016, hopefully our daura miracle worker can increase the upside potentials. |
Re: Oil Prices Drops Below $50 -bloomberg by Trailblazer1(m): 10:30pm On Aug 03, 2015 |
atlwireles:And you think the dullard understands all these grammar 4 Likes |
Re: Oil Prices Drops Below $50 -bloomberg by atlwireles: 10:33pm On Aug 03, 2015 |
Trailblazer1: His sai chanters are all on deck 2 Likes |
Re: Oil Prices Drops Below $50 -bloomberg by ERODEDEAST(f): 10:34pm On Aug 03, 2015 |
It will still drop more because Iranians are not smiling 4 Likes |
Re: Oil Prices Drops Below $50 -bloomberg by winniz: 10:41pm On Aug 03, 2015 |
AshiwajuFoward: SE never depended on oil unlike you Lazy South West parasites, whereas which palm oil plantation are you talking about while SE have already embraced Science and Technology eg Innoson, Zinox etc South West should start planting Cocoa. 3 Likes |
Re: Oil Prices Drops Below $50 -bloomberg by AshiwajuFoward: 10:43pm On Aug 03, 2015 |
winniz: Story for the gods. Una no dey collect allocation? Abi you think it is money from Aba and Onitsha that your governors use to execute projects and pay salaries? What did you contribute to get that much money from FG? No be Oil money? We (SW) are already contributing billions from Cocoa exports, what are you all contributing? Na una be the real proper leaches. TELL US WHAT SE IS CONTRIBUTING TO THE CENTER? ? 8 Likes |
Re: Oil Prices Drops Below $50 -bloomberg by pazienza(m): 10:47pm On Aug 03, 2015 |
Oil price is falling, never to rise again! A new era is about to begin. 4 Likes |
Re: Oil Prices Drops Below $50 -bloomberg by lincolnj88: 10:54pm On Aug 03, 2015 |
apc say dem go diversify our economy..... na frm next yr I go rate buhari performances .... Gej my man 3 Likes |
Re: Oil Prices Drops Below $50 -bloomberg by Ghandi12: 11:03pm On Aug 03, 2015 |
National revenue keeps going down, understandably, States are finding it harder to keep afloat but the 469-membered-NASS budget is still 10-20% of our national budget. Pastor Saraki, Senator Ben Bruce, Senator Sanni and colleagues should demonstrate how much they care by discussing how to drastically reduce the NASS expenses to reflect the current economic reality of the Nation. PMB needs to overhaul the Top echelon of EFCC, ICPC and CCB. These bodies have the potential of recovering so much money trapped with few Nigerians now. 3 Likes |
Re: Oil Prices Drops Below $50 -bloomberg by winniz: 11:15pm On Aug 03, 2015 |
AshiwajuFoward: Imo and Abia are among oil producing states that contributes hugely to your zoo economy. When you talk about allocation, how much allocation do SE receive from your zoo government? cos SE collects very low allocation, they still raise IGR that is used in running their various states. South West contributing billions of naira from Cocoa export is a huge lie that was busted on this thread. You lots are just Lazy parasites, only good in cooking up fake facts and figures to deceive gullible Nigerians. https://www.nairaland.com/2496058/debunking-latest-lie-nigeria-did 3 Likes 1 Share |
Re: Oil Prices Drops Below $50 -bloomberg by AshiwajuFoward: 11:27pm On Aug 03, 2015 |
winniz: LOL. SW giving una bad-belle lot headache since donkey years . Imo and Abia Oil is tantamount to a drop in the bucket to the center -- it's so small that Ondo, and even Oyo (a non-oil producing state) receive more allocation than Imo not to talk of Abia. The real grouse you all have is in the fact that we get more allocation than you all -- obviously coz we contribute way more. Lagos, Ogun and Oyo still collect more IGR than any other SE state except for Enugu. We have more industries than any other region, our sea and airports contribute more than all your states combined to the federal coffers. Lagos alone contributes more than 2 trillion to the FG (though it unfairly receives 96billion in return). In short, as a stand-alone country we have all it takes to be the dominant country in West Africa . Our region also makes the largest non-oil contribution to the FG. Lagos economy alone, according to Ambode, is worth $131billion dollars -- more than over 40 countries in Africa. What the heck, that flyoroba guy thrashed you all on that thread you referenced. You don't have to believe our Cocoa export value coz you are a nobody in the overall scheme of things. As long as the FG knows and captures our contribution, that's all good . I'm still yet to see any data of your contribution though, besides Abia and Imo Oil, which isn't even worth bragging about. 6 Likes |
Re: Oil Prices Drops Below $50 -bloomberg by Cjrane2: 11:28pm On Aug 03, 2015 |
[size=18pt]allahu akabar!!! May it return to $15 dollars where the rise started from[/size] 1 Like |
Re: Oil Prices Drops Below $50 -bloomberg by owobokiri(m): 11:45pm On Aug 03, 2015 |
AshiwajuFoward: Lagos contribution frm the ports or from receipts from Lagos cocoa? Lol. You will soon be forced to have your own cocoa republic so you can dominate the whole worl. |
Re: Oil Prices Drops Below $50 -bloomberg by AshiwajuFoward: 11:53pm On Aug 03, 2015 |
owobokiri: Whatever you prescribe to us equally applies to your region boy. But in anycase don't you worry about us, be it with Cocoa, industries, sectors such as Telecoms, I.T, Agriculture, our ports, or whatever. We will survive. Concentrate on your own region (where many of your people can't survive unless they venture out of your region) coz we will be mighty fine 6 Likes |
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