Read on Twitter
Now, here's an insightful layout on what's occuring.
The ships scheduled to deliver crude oil have arrived & been sitting dock, before the lockdown Saudi Arabia dropped their to sell oil very low so it's very attractive for buyers, so this time team Russia rose to the occasion.
The ships scheduled to deliver crude oil have arrived & been sitting dock, before the lockdown Saudi Arabia dropped their to sell oil very low so it's very attractive for buyers, so this time team Russia rose to the occasion.
The crude oil that arrived needs to be offloaded et al & the ship needs to go back, but no more available storage anywhere because of lockdown, the population haven't burnt oil in months.
So there excess crude in storage, but here comes more crude & ships sitting dock
#oilcrash
So there excess crude in storage, but here comes more crude & ships sitting dock
#oilcrash
The ships sitting dock will have to pay demurrage for sitting dock too long.
The extra storage facility they rented to store some of the crude is Full that too is sitting dock & breeding extra demurrage for the oil companies.
Some ships will arrive next tomorrow with more crude
The extra storage facility they rented to store some of the crude is Full that too is sitting dock & breeding extra demurrage for the oil companies.
Some ships will arrive next tomorrow with more crude
Now you see me & see why they will have to wrap up this their Cvid19 Scam & reopen, either ways the #lockdown will end next week!
The smart thing for people to do is to stay indoors longer, don't be quick to rush up & down, Chill 1st! Observe & reintegrate slowwwly.
#lockdown
The smart thing for people to do is to stay indoors longer, don't be quick to rush up & down, Chill 1st! Observe & reintegrate slowwwly.
#lockdown
Remember what the wise man said,
"Only fools rush in"
Don't rush out!
Once public commerce commence.
Let us all use our collective will power to keep up the pace, we advice @elonmusk to do a buy 4 @Tesla Get one free
Get 4 people to buy a Tesla you'll get 1 free.
#oilcrash
"Only fools rush in"
Don't rush out!
Once public commerce commence.
Let us all use our collective will power to keep up the pace, we advice @elonmusk to do a buy 4 @Tesla Get one free
Get 4 people to buy a Tesla you'll get 1 free.
#oilcrash
Now oil has crashed #Covid19 is the least of anyone's worries now
There's a chance Nigeria will look like Venezuela when greedy politicians start looking for where else to press so money can come out, then one fool will suggest print more money or sell everything.
#oilcrash
There's a chance Nigeria will look like Venezuela when greedy politicians start looking for where else to press so money can come out, then one fool will suggest print more money or sell everything.
#oilcrash
Most investors are waiting for Nigeria to devalue her naira before they can start buying in foreign assets, they want to deal with Nigeria at the new exchange rate after naira is revalued, which is not much for a nation that depends 70% strictly on oil.
#oilcrash
#oilcrash
We may continue this thread tomorrow, we want to make & wait for some things to happen before we share what potential out of the 2 bad & worse scenario is more likely..
The worst case scenario is, Nigeria suffers the same fate as Venezuela & Zimbabwe, which is easily avoidable.
The worst case scenario is, Nigeria suffers the same fate as Venezuela & Zimbabwe, which is easily avoidable.
