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Nairaland Forum / Nairaland / General / Business / Crude Oil Price Plunges Further, Now Sells Below $35 (18121 Views)
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Re: Crude Oil Price Plunges Further, Now Sells Below $35 by tuniski: 8:18pm On Jan 07, 2016 |
NaLaugh:recession is a situation where u have a decline for 3 consecutive quarters. Like what we are having in d manufacturing sector where job losses Have continue for the 4th quarter. It is spreading to every sector for now it is a technical recession not yet a full recession where the entire economy witnesses a sustained decline Q on Q. |
Re: Crude Oil Price Plunges Further, Now Sells Below $35 by 400billionman: 9:27pm On Jan 07, 2016 |
When I watch some green horn federal civil servants spend anyhow, i pity them.. Culture shock.. 1 Like 1 Share |
Re: Crude Oil Price Plunges Further, Now Sells Below $35 by Ganjafama(m): 9:39pm On Jan 07, 2016 |
chinchum:Bro let it fall to $15 sef. Atleast that will force the government to seek for alternative sources of income. We have iron ore, gold,bauxite and other solid minerals in abundance. Whats stopping us from exploiting them. 1 Like |
Re: Crude Oil Price Plunges Further, Now Sells Below $35 by agabusta: 9:49pm On Jan 07, 2016 |
Chosen1984: Saudi Arabia is the largest producer of oil after the US. Saudi Arabia is also bordered by countries that supply significant quantities of crude such as Bahrain, Qatar, UAE, Kuwait and Iraq. If a conflict/war occurs in this region, it will seriously affect the supply of crude, which will ultimately lead to a significant increase in price. The lesser the supply, the higher the price. Iran has consistently threatened to block the strait of Homuz if threatened by the US and its allies. A very significant quantity of the produced crude oil in the world is transported through this place. Infact this is the major reason why US has also been prevailing on Isreal to dialogue with Iran instead of attacking Iran. Recall that the first gulf war btw US and Iraq led to an upward surge in crude oil prices. The recent invasion of Iraq also led to an increase in oil prices that Obj, Yaradua and GEJ enjoyed. Infact if Saudi Arabia and it's allies attack Iran....the kind of increase in fuel price that will happen will be unprecedented. 1 Like |
Re: Crude Oil Price Plunges Further, Now Sells Below $35 by chinchum(m): 10:39pm On Jan 07, 2016 |
Ganjafama: offcourse it is a sweet bitter situation that will force a change, but in the immediate, there would be gnashing of teeth, all those things you listed will not start fetching considerable income at least within 12 months, the best time to diversify an economy is in the midst of plenty. |
Re: Crude Oil Price Plunges Further, Now Sells Below $35 by Obidikejr(m): 11:58pm On Jan 07, 2016 |
kevinscore: They started fixing their father land on time, just like the likes of the UAE less than 2 decades ago it has become the economic power of the Middle East .. We just starting to plan for our future under this current leadership, Nigeria was never planned from its inception after our independence, we just live as the day come and go never thinking of how the next generation of Nigerians will fare, without building a foundation for them. Singapore got her independence 5yrs after us, but look at that nation today 5th most tech advanced in the world. Singapore is a high-tech, business-friendly nation. It is a knowledge-based, innovation driven economy. The nation has fastest internet in the world. The home internet speed is up to 1 Gbps. All the citizens of Singapore own a smartphone. The nation is well-known for its high-tech infrastructure. What are we known for aside corruption. We need the likes of PMB two for the next 16 years to completely lift this country out of its shit hole, for the sake of our unborn children. 1 Like |
Re: Crude Oil Price Plunges Further, Now Sells Below $35 by Nobody: 12:23am On Jan 08, 2016 |
I see... Great one.. Cheers agabusta: |
Re: Crude Oil Price Plunges Further, Now Sells Below $35 by Nobody: 5:34am On Jan 08, 2016 |
Obidikejr: I totally agree with you,PMB has a blueprint of how to get this country out of the abyss just that distractors wouldn't allow him to work but whichevere way we must prevail. |
Re: Crude Oil Price Plunges Further, Now Sells Below $35 by Nobody: 6:11am On Jan 08, 2016 |
phemmie06:they can still secede without the oil...at least they arent much afraid like the other parts of nigeria who have chosen not to evem fight for true federalism..oil would bounce back..though that isnt enough reason for nigeria to look into other means of creating revenue...laziness and wickedness is what has landed us where we are.. |
Re: Crude Oil Price Plunges Further, Now Sells Below $35 by Nobody: 6:21am On Jan 08, 2016 |
profmallory:lies...gej would have thought better...gej opted for true federalism..gej handled the ebola crisis well and would have handled this even better as long as it had to deal with the economy..buharis budget as we know apportioned little or nothing for diversification even with the realities on ground...he made himself minister of petroleum and not even mining or agriculture... I hope that budget is worked on to espouse real diversification of the economy.. |
Re: Crude Oil Price Plunges Further, Now Sells Below $35 by profmallory(m): 10:00am On Jan 08, 2016 |
If in the time of plenty, GEJ handled the economy the way he did that today we are in a crisis, I dont see any positives in how he would have handled this time of little. IzonOwei: |
Re: Crude Oil Price Plunges Further, Now Sells Below $35 by Nobody: 10:33am On Jan 08, 2016 |
profmallory:oya make buhari handle am na...where is the proposed budget pegged with oil price at 38 dollars...it has being withdrawn abi |
Re: Crude Oil Price Plunges Further, Now Sells Below $35 by profmallory(m): 11:04am On Jan 08, 2016 |
GEJ was favoured, just like Saul in the bible. But just like Saul he blew it. The kingdom has been taken from him and given to Buhari(David), see if Buhari is true to himself knowing it is only God that got him there, Yes he and indeed Nigeria would success even if Oil falls to 20USD per barrel. If Buhari fails then people would suffer, so in our interest and the generation unborn May he succeed. IzonOwei: |
Re: Crude Oil Price Plunges Further, Now Sells Below $35 by Nobody: 1:27pm On Jan 08, 2016 |
profmallory:we hope he does.. |
Re: Crude Oil Price Plunges Further, Now Sells Below $35 by EbolaParasite: 9:00pm On Jan 08, 2016 |
kevinscore: Please tell me you're not serious. China has SEVERAL oil fields. Were you born yesterday? You can't be this ignorant. |
Re: Crude Oil Price Plunges Further, Now Sells Below $35 by Chibuking81(m): 9:12pm On Jan 08, 2016 |
God is aware of what is happening, he will always make away where there is see no way. Millions of years has past, and millions of people has lived and gone, crude oil is a thing of just yesterday, no matter what, we shall live more stronger. It is well. |
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