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US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices (14575 Views)

Moscow Warns Of $500-a-barrel Oil / Nigeria’s Oil Reserves Dropped By 543 Million Barrels - OPEC / Even At $10 A Barrel, Oil Traders Balk At Buying Nigeria’s Crude (2) (3) (4)

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Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by Quiny32323: 9:46pm On Nov 23, 2021
Simple, oga use it in your local market dont disturb us abeg
Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by Quiny32323: 9:48pm On Nov 23, 2021
lepashandie:
Crude oil era coming to an end grin

Na you want end am abi u dont understand the logic behind it.
Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by CyberHustle: 9:49pm On Nov 23, 2021
A counter-OPEC initiative.
Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by Quiny32323: 9:51pm On Nov 23, 2021
viyon02:
That is US for you, always there to save the world.

Or bully the world, this is pure bully,thank goodness russia is their to tame their ass. What did he do when the price was damn low.
Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by Evangelynn(f): 9:54pm On Nov 23, 2021
FarahAideed:


Under Trump American bought gasoline below 2 dollars but under incompetent panty pooper Joe Biden Gasoline has gone past 6 dollars in most places and will soon hit 7 dollars in California .....America is already suffering it's worst inflation in 60 years under incompetent joe justike we are suffering under your Buhari

When will you blockhead realise that the world is still suffering a global pandemic which started under your lord and saviour Trump hence the global economy is recovering
When will you realise that presidents don't fix prices neither are they responsible for global inflation.
Under Biden America has the lowest unemployment rate of 4.6% in years, many states are bouncing back even the stock market is healthy.

His economic policies are bringing effective change to the US economy and in his first 10 months he recorded an employment of over 6 million which Trump never had in his first 10 months.
Inflation isn't Biden's fault but a general world wide problem don't be silly and go and learn global economics.Because there is inflation doesn't mean the American economy isn't moving on going through a recovery process

Biden has passed infrastructure which your lord Trump failed to do he has popular policies and the economy is roaring back.
Use your head and stop saying rubbish

6 Likes

Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by CyberHustle: 9:55pm On Nov 23, 2021
FarahAideed:


It won't work , it's a useless measure ..all OPEC needs to do is stay put for 30 days and the 50 million will be wiped and after that what will useless Joe Biden do ? Risk American Strategic reserve by releasing another 50?
if OPEC stays off for 30 days then many nations will suffer shortage in revenue and Nigeria is one.
Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by lokoloko84(m): 9:58pm On Nov 23, 2021
FarahAideed:


Under Trump American bought gasoline below 2 dollars but under incompetent panty pooper Joe Biden Gasoline has gone past 6 dollars in most places and will soon hit 7 dollars in California .....America is already suffering it's worst inflation in 60 years under incompetent joe justike we are suffering under your Buhari
.Do not mind that slowpoke,he even went further to stop the pipeline construction to transport crude oil from Canada to some refinery in U.S, citing global warming.
The idiot you quoted is just a senseless being.
That country was on path of energy independence under trump with Low energy prices and low inflation and now the reverse is the case.

2 Likes

Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by Evangelynn(f): 9:58pm On Nov 23, 2021
CyberHustle:
if OPEC stays off for 30 days then many nations will suffer shortage in revenue and Nigeria is one.

Farahaideed knows nothing,he just hates Biden because he has been fed with useless lies and because Biden beat his lord and saviour Trump so he can say any nonsense he wants. grin
Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by CyberHustle: 9:58pm On Nov 23, 2021
Quiny32323:
Simple, oga use it in your local market dont disturb us abeg
the Intl prices is what they are after and artificially induced Intl shortage of supply can only be negated by Intl excess or surge in supply.

1 Like

Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by Evangelynn(f): 10:00pm On Nov 23, 2021
lokoloko84:
.Do not mind that slowpoke,he even went further to stop the pipeline construction to transport crude oil from Canada to some refinery in U.S, citing global warming.
The idiot you quoted is just a senseless being.
That country was on path of energy independence under trump with Low energy prices and low inflation and now the reverse is the case.
You are the slowpoke, don't you know the pipeline was temporary please be quiet if you don't know zilch of what you are saying,how does stoping the pipeline affect gas prices cheesy
You are the idiot who is senseless.
Lol energy independence under Trump you are just a big clown even the stats under Biden speaks for itself,Trump was a failure and 81 million Americans kicked him out.
Common get lost and stop saying rubbish you blockhead grin

4 Likes 1 Share

Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by Nobody: 10:04pm On Nov 23, 2021
Another option is for them to allow iran export their oil, this will crash the price
Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by FarahAideed: 10:07pm On Nov 23, 2021
Evangelynn:


When will you blockhead realise that the world is still suffering a global pandemic which started under your lord and saviour Trump hence the global economy is recovering
When will you realise that presidents don't fix prices neither are they responsible for global inflation.
Under Biden America has the lowest unemployment rate of 4.6% in years, many states are bouncing back even the stock market is healthy.

His economic policies are bringing effective change to the US economy and in his first 10 months he recorded an employment of over 6 million which Trump never had in his first 10 months.
Inflation isn't Biden's fault but a general world wide problem don't be silly and go and learn global economics.Because there is inflation doesn't mean the American economy isn't moving on going through a recovery process

Biden has passed infrastructure which your lord Trump failed to do he has popular policies and the economy is roaring back.
Use your head and stop saying rubbish

Not surprised this is coming from someone that supports Buhari cheesy.. you can keep decieving yourself but all recent poll show Americans prefer Trump govt to this Joe Biden failed govt just like Nigerians all prefer Jonathan's govt to failed Buharis govt !!

2 Likes

Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by lokoloko84(m): 10:07pm On Nov 23, 2021
Evangelynn:

You are the slowpoke, don't you know the pipeline was temporary please be quiet if you don't know zilch of what you are saying,how does stoping the pipeline affect gas prices cheesy
You are the idiot who is senseless.
Lol energy independence under Trump you are just a big clown even the stats under Biden speaks for itself,Trump was a failure and 81 million Americans kicked him out.
Common get lost and stop saying rubbish you blockhead grin
you are an Idiot and guilty conscience has damaged your filty brain.
Biden is a puppet and an incompetent slowpoke who is about to destroy that country. You don't even know why,he stopped the pipeline construction and drilling of oil reserves in some parts of that country.
Ask your silly brain why there was low energy prices throughout Trump's tenure.The same idiot who refused drilling of Oil in U.S citing global warming is now pressurising other countries to increase their production out put.
Is that not hypocrisy?
Continue to reveal in your 80 million votes, most of which are fraudulent in nature.
Sophisticated riggers!
Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by linearity: 10:10pm On Nov 23, 2021
FarahAideed:


Under Trump American bought gasoline below 2 dollars but under incompetent panty pooper Joe Biden Gasoline has gone past 6 dollars in most places and will soon hit 7 dollars in California .....America is already suffering it's worst inflation in 60 years under incompetent joe justike we are suffering under your Buhari

Another one spotted! They don’t think for themselves!

So what did Trump did exactly to make gas prices cheaper?

You think somehow prices of gases are not influenced by market forces of demand and supply?

In 2019 & 2020 almost everyone in the USA stayed in-doors and the Airlines were virtually grounded and you think that drastic nose dive in demand will not push gas prices down?

Things have since picked up in addition with high inflation and you expect the prices of other staples to rise but not the price of gas?

3 Likes 2 Shares

Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by Evangelynn(f): 10:10pm On Nov 23, 2021
FarahAideed:


Not surprised this is coming from someone that supports Buhari cheesy.. you can keep decieving yourself but all recent poll show Americans prefer Trump govt to this Joe Biden failed govt just like Nigerians all prefer Jonathan's govt to failed Buharis govt !!
Lol,Newsweek grin
Please counter my points with logical actual facts not imaginary dumb polls that I can also post the contrary.
Trump has low poll numbers but 72 million idiots still voted for him so polls are nothing cheesy and they fluctuate and can never be reliable facts.
Get lost if you cannot disprove what I stated grin

1 Like

Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by Evangelynn(f): 10:11pm On Nov 23, 2021
linearity:


Another one spotted! They don’t think for themselves!

So what did Trump did exactly to make gas prices cheaper?

You think somehow prices of gases are not influenced by market forces of demand and supply?

In 2019 & 2020 almost everyone in the USA stayed in-doors and the Airlines were virtually grounded and you think that drastic nose dive in demand will not push gas prices down?

Things have since picked up in addition with high inflation and you expect the prices of other staples to rise but not the price of gas?

Lokoloko84,read this I know you are a blockhead so you may not understand what he just stated.
Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by Evangelynn(f): 10:12pm On Nov 23, 2021
lokoloko84:
[s]you are an Idiot and guilty conscience has damaged your filty brain.
Biden is a puppet and an incompetent slowpoke who is about to destroy that country. You don't even know why,he stopped the pipeline construction and drilling of oil reserves in some parts of that country.
Ask your silly brain why there was low energy prices throughout Trump's tenure.The same idiot who refused drilling of Oil in U.S citing global warming is now pressurising other countries to increase their production out put.
Is that not hypocrisy?
Continue to reveal in your 80 million votes, most of which are fraudulent in nature.
Sophisticated riggers![/s]
You believe the election was rigged,you are truly a blockhead of unsound mind not worth dialoguing with.

You are fit for a circus and not supposed to be in a conversation of intellectual humans

1 Like

Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by FarahAideed: 10:13pm On Nov 23, 2021
Evangelynn:

Lol,Newsweek grin
Please counter my points with logical actual facts not imaginary dumb polls that I can also post the contrary.
Trump has low poll numbers but 72 million idiots still voted for him so polls are nothing cheesy and they fluctuate and can never be reliable facts.
Get lost if you cannot disprove what I stated grin

Trump had the highest popular vote in US history...we all know Biden Popular vote was fabricated

1 Like

Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by lokoloko84(m): 10:14pm On Nov 23, 2021
Evangelynn:


Lokoloko84,read this I know you are a blockhead so you may not understand what he just stated.
I skip stupid people.
Go back to Trump's energy policy before yarning dust.
You can only decieve stupid Nigerians who only listen and watch one medium source and derive their judgement from there,due to there poor thinking faculty.GTFH!

1 Like

Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by Evangelynn(f): 10:15pm On Nov 23, 2021
FarahAideed:


Trump had the highest popular vote in US history...we all know Biden Popular vote was fabricated

Biden won by 82 million valid votes counted over and over again and he holds the highest number of votes for a US president.

No amount of tears will change that embarassed tongue

4 Likes

Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by Evangelynn(f): 10:15pm On Nov 23, 2021
lokoloko84:
I skip stupid people.
Go back to Trump's energy policy before yarning dust.
You can only decieve stupid Nigerians who only listen and watch one media source and derive their judgement from there.GTFH!

Abeg shut up energy policy slap you there.

Ogogogoro illiterate spitting fabricated jargons. cheesy

1 Like

Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by FarahAideed: 10:17pm On Nov 23, 2021
Evangelynn:


Biden won by 82 million valid votes counted over and over again and he holds the highest number of votes for a US president.

No amount of tears will change that embarassed tongue

Fake Manufactured Votes ...Everyone Knows That !!!!!!!!!!!

1 Like

Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by Evangelynn(f): 10:21pm On Nov 23, 2021
FarahAideed:


Fake Manufactured Votes ...Everyone Knows That !!!!!!!!!!!
Nobody knows that,it only exist in your deluded head alongside your fellow MAGAts even Trump doesn't believe that grin
Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by lokoloko84(m): 10:21pm On Nov 23, 2021
Evangelynn:

You believe the election was rigged,you are truly a blockhead of unsound mind not worth dialoguing with.

You are fit for a circus and not supposed to be in a conversation of intellectual humans
Yea! The election was free and fair.
One candidate was leading but suddenly,millions of ballot papers through mail in box were miraculously found over night.
Dumb nincompoop!
The most shameless election in the so called advanced democracy.Even Africa leaders can rig elections better.
Senseless immoral hack.
Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by kolnel: 10:22pm On Nov 23, 2021
I just despise this government.
biden is not different from Buhari.,im sure he's going to ruin the economy before the next general election.
why did he stop the the oil production?
very clueless.
Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by Quiny32323: 10:23pm On Nov 23, 2021
CyberHustle:
the Intl prices is what they are after and artificially induced Intl shortage of supply can only be negated by Intl excess or surge in supply.

But it's not the case here, this is just a simple economic logic playing out with the world waking up from the corona brouhaha, if not for greed why would they be so concerned to the point of releasing their reserves, at the peak of the corona pandemic, the oil price slumped and the same people filled up their reserves with cheap oil to the extent their was no space to store up oil and all oil producing countries where at lost. This is the time to recoup those losses simple. Thank goodness russia is an opec member. It's logical that opec have to cut down on production and this has been on since the pandemic struck.
Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by lokoloko84(m): 10:24pm On Nov 23, 2021
Evangelynn:


Abeg shut up energy policy slap you there.

Ogogogoro illiterate spitting fabricated jargons. cheesy
I will rather drink Ogogoro and think well than be a useless , immoral and dishonest doofus like you.
Dullard!
Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by Evangelynn(f): 10:27pm On Nov 23, 2021
lokoloko84:
Yea! The election was free and fair.
One candidate was leading but suddenly,millions of ballot paper through mail in box were miraculously found over night.
Dumb nincompoop!
The most shameless election in the so called advanced democracy.Even Africa leaders can rig elections better.
Senseless immoral hack.
You would have saved yourself of this embarrassment if you had actually followed the election process and read that the states legislatures controlled by republicans in Wisconsin, Michigan and Pennsylvania asked for the ballots to be counted after election day.
Mail ballots have been in America since the 20th century you blockhead and 9 states in America exclusively vote by mail,you cannot rig mail votes and fraud is very very minimal most of the fraud caught were done by Trump supporters who attempted to vote twice.Go back and read the news republicans in those states passed laws to have the ballots counted after the election had been concluded it had nothing to do with Biden and the democrats stop embarrassing yourself.It is obvious you don't know anything about American elections because results are announced through the night and extend to days as well the pandemic caused a large use of vote by mail.

The election wasn't rigged it was only rigged in your blocked deluded head, the election was adjudged free and fair by election officials and judges the rigging only took place in your head.
The election was one of the fairest elections in American history.
Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by Evangelynn(f): 10:28pm On Nov 23, 2021
lokoloko84:
I will rather drink Ogogoro and think well than be a useless , immoral and dishonest doofus like you.
Dullard!

Lol ogogogoro illiterate spitting his usual trash grin
Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by MiaBeer(m): 10:29pm On Nov 23, 2021
I am surprised this is not even news here. Na Waooh!
Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by meobizy(f): 10:33pm On Nov 23, 2021
Good. It means work will soon start for me. With all that gone, the US will need sales from producers thus giving me back my job.
Re: US To Release 50M Barrel Oil Reserves In Attempt To Lower Prices by CSTRR: 10:34pm On Nov 23, 2021
omenkaLives:
Had no idea this hike has gone global. Look at the chronic gas crisis that Eurozone is currently engulfed in. If only we had forward thinking and responsible leaders, this would have been a time to make a killing!! But what do we have, 3xtreme wastage from gas flaring!!

I imagine what those white people could have done with such gas reserves in their hands. Russia wouldn't have had the kind of stranglehold it has over Europe.
The lagos-morocco gas Pipeline should have been the one to address those needs.

From morrocco, we can send out gas thorough underground pipes too to Portugal or Spain.

But first we need to connect to morrocco and the deal has been signed long ago.

It is crazy that Nigeria is not working hard to get it done.

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