₦airaland Forum

The government may commence shutting in oil fields as the oil prices drop, as cost of production approach the selling price, on a barrel basis.

Source channels tv.

Details later

Recession

nedu86:
Recession

Bad but spells a silver lining at the same time

It does not make economic sense to produce oil at $28 per barrel and sell at the same $28 or even $30. If oil slide lower than $30per barrel it would be stupid to continue production

OPEC really needs to cut members production quotas to stabilise the price a little. At the rate the crude oil price is falling, shutting down some oil wells will be inevitable. It doesn't make any business sense to continue to produce at a loss and we are gradually approaching that level.

The separation of Nigeria is imminent I tell you. THE DAY OIL IS FINISHED OR LOST ITS FINANCIAL VALUE, THAT'S THE END OF NIGERIA.

Shutting down production will likely be across board, save for the very low cost producers. This event will make the oil find a bottom faster, which implies that the much anticipated rebound is closer.

beautiful

In essence, Tompolo & co are just in a futile exercise.

Ijaya123:
In essence, Tompolo & co are just in a futile exercise.

Lol

we're fast approaching d era where water will b cheaper than dan oil.

pat077:
we're fast approaching d era where water will b cheaper than dan oil.

Nope bro, rather a spike will be experienced.

dont mess with America's prediction