Tycike:
Yeah I saw it in the news but I don't think is due to militancy.

fiizznation:
Nigeria is not among the top oil producers in the world, so how are the militants controlling the price of oil? Is it because the blow up pipelines or what?

LordVarys:

Reuters, Forbes, UK Business Insider, Financial Times and oil traders all blame the global rise in oil prices to the fall in production from Nigeria thanks to NDA.
Seems the militants are doing the oil industry a big favour ironically.

fiizznation:
Ignorance at its peak. Dude the rise and fall of oil price has nothing whatsoever to do with militants. The price is mostly influenced by low/high demands from industrialised countries like China, India, USA, Japan and some few countries in Europe. Oil market is all about protecting your markets and making sure your competitors don't take over your market base. And till date Nigeria still refines 70% of its crude outside so blowing up pipelines will largely effect the average Nigerian{I.e scarcity of PMS, No gas for power plants and electricity supply will drastically drop} and the prices of oil will still be controlled by major international players

LordVarys:

Actually Nigeria is the 10th largest producer but the 6th largest exporter.....the reason oil prices are low was because of oversupply and ramped up production from exporters. This disruptions by NDA effectively take 800,000bbl off the world market. Prices will thus rise due to this reduction in anticipated supply. It's all supply and demand .
Which is why instability in oil producing nations kept oil prices high for a long time.

LordVarys:

You are the ignorant one, can't even argue with you. It's pointless. The two articles above from two respected financial sites clearly explain the reason for the recent surge in oil prices and you're talking rubbish.
Responding to you isn't just worth it.

fiizznation:
Ignorance at its peak. Dude the rise and fall of oil price has nothing whatsoever to do with militants. The price is mostly influenced by low/high demands from industrialised countries like China, India, USA, Japan and some few countries in Europe. Oil market is all about protecting your markets and making sure your competitors don't take over your market base. And till date Nigeria still refines 70% of its crude outside so blowing up pipelines will largely effect the average Nigerian{I.e scarcity of PMS, No gas for power plants and electricity supply will drastically drop} and the prices of oil will still be controlled by major international players

Tycike:
Yeah I saw it in the news but I don't think is due to militancy.

fiizznation:
Ignorance at its peak. Dude the rise and fall of oil price has nothing whatsoever to do with militants. The price is mostly influenced by low/high demands from industrialised countries like China, India, USA, Japan and some few countries in Europe. Oil market is all about protecting your markets and making sure your competitors don't take over your market base. And till date Nigeria still refines 70% of its crude outside so blowing up pipelines will largely effect the average Nigerian{I.e scarcity of PMS, No gas for power plants and electricity supply will drastically drop} and the prices of oil will still be controlled by major international players

Shym3xx:


Oil prices are controlled by supply and volatility - not demand since there will always be a very high demand for crude oil. The major players aren't the buyers - the suppliers control the market, hence Saudi Arabia and the gulf states are very instrumental in determining oil prices...not the countries you listed.

Also, there are different types of crude oil and the specifications/configurations for refineries vary. So you can't just wake up one day and say cos there's volatility in the Nigerian market you would move from naij's sweet crude - to Saudi's oil that has high sulphur. It takes time.

Anyway, in as much as this won't hike oil prices that much, it will boost it a bit.

Tycike:
Yeah I saw it in the news but I don't think is due to militancy.

fiizznation:
You can't just ignorantly copy one piece of crap rubbish from western media houses and expect me to swallow their lies. I read economics at some certain time and am very vested in the field, especially in the prices of oil, gas, diesel and kerosene. I'm challenging you to tell me{since you were the person that ignorantly brought this horseshit plus junky analysis here without knowing how to intellectually defend the crap} how the sabotage by the militants is effecting the world oil price and you are telling me the stories of our ancestors. Are you for real? Assuming you were asked in the exam hall to defend what you pasted up there, are you going to tell the lecturer that he should ask the original poster? My friend we are in the 21st century, wake up please

ayzTIGER:
Dude your analysis is always flawed... This man once googled Enugu from London and came to conclusion that no grass in Enugu is good enough for cattle therefore Fulanis dont stay in Enugu... WTF is wrong with this dude

fiizznation:
My bro before 2015/2014, those gulf countries control oil prices and everybody knows that. I think prior to 2015 the saudis, russians, kuwait, iran etc had an unmatched control over over oil prices, they could decrease and increase the oil prices whenever they wanted. But when USA came out with it shale oil, what happened? Those gulf countries loose the control of oil prices in the world and China's{not an oil producer} influence on oil price bigger to grow more and more. I think even the gulf countries have accepted this new reality and a new equilibrium has already taken place. Besides a more better way of knowing were oil prices will be maybe in the future is the break-even of USA shale oil producers, which I think is the main focus of gulf nations right now. Don't forget, the argument here is strictly about "militants controlling oil prices" which I didn't agree with{militants controlling oil price, funny}.

Your second paragraph, I 100% agree with that, rather I know that. I was just being a little sentimental on that

jpphilips:


Your ignorance is so high that ordinary education cant liberate you, perhaps hypnosis will help damn!! what have you been smoking? I nearly fainted after reading this.
You musn't comment on every thread especially the ones you have no idea, you may stick to terry G and P square thread, your ignorance stink!!

fiizznation:
Dude don't sit down there and tell me horseshit. Tell me how the militants activities in the niger/delta control the international oil price and I will eventually deactivate my account immediately{besides am even tired of engaging little minds like you and the person that brought this horseshit here}. You guys can't be crawling out from whatever mushroom you reside in and be spreading total bullshit. Can't you people think for once or what? If someone tells me the gulf nations control oil price with a concrete proof, I will totally agree. But militants controlling oil price!!! Does that even make any sense to you? What is wrong with you people?

ASL33:
Even yesterday it was on cnbc europe that the marginal gain in price is die to the fire incident in canada oil city and ND bombing in nigeria. Yoi people argue blindly most times.

fiizznation:
My bro before 2015/2014, those gulf countries control oil prices and everybody knows that. I think prior to 2015 the saudis, russians, kuwait, iran etc had an unmatched control over over oil prices, they could decrease and increase the oil prices whenever they wanted. But when USA came out with it shale oil, what happened? Those gulf countries loose the control of oil prices in the world and China's{not an oil producer} influence on oil price bigger to grow more and more. I think even the gulf countries have accepted this new reality and a new equilibrium has already taken place. Besides a more better way of knowing were oil prices will be maybe in the future is the break-even of USA shale oil producers, which I think is the main focus of gulf nations right now. Don't forget, the argument here is strictly about "militants controlling oil prices" which I didn't agree with{militants controlling oil price, funny}.

Your second paragraph, I 100% agree with that, rather I know that. I was just being a little sentimental on that

Shym3xx:


Oil prices are controlled by supply and volatility - not demand since there will always be a very high demand for crude oil. The major players aren't the buyers - the suppliers control the market, hence Saudi Arabia and the gulf states are very instrumental in determining oil prices...not the countries you listed.

Also, there are different types of crude oil and the specifications/configurations for refineries vary. So you can't just wake up one day and say cos there's volatility in the Nigerian market you would move from naij's sweet crude - to Saudi's oil that has high sulphur. It takes time.

Anyway, in as much as this won't hike oil prices that much, it will boost it a bit.

jpphilips:



You are looking for free education on the internet abi? try your next victim, you are lucky few people have the time to correct you, I am enjoying your buffoonery, continue I am entertained, the little you know, the better for all of us, who knows if the truth will overwhelm your IQ.
It is only a f00l that doesn't capitulate to a superior arguement, are you a f00l?