Breaking News. OPEC to cut production

After a year of wrangling, OPEC members have a few minutes ago agreed to cut production by 1.2million bbpd. Oil prices have started to rise.

Bbpd sounds like wnbp


Maumbwa wameumiza one of the trades i had. Although i have hedged it to profit.

Wewe umekula ya kutosha. tosheka

OPEC is just a cartel


I don’t blame them. These countries are economically suffering.

It has always been. Hata tukisoma economic blocs shuleni OPEC was referred to as a cartel.


Kwanza Venezuela wameona fwaya.


Unfortunately it’ll only take KPLC like 2 seconds to adjust that fuel levy fee upwards. Mtu ashaona penye atatoa fee na rent ya January


Ile mbaya. People there were even selling toilet paper in the black market juu ilikuwa scarce

I’m sure ERC will rush to increase petrol prices in Dec and quote @Okiya

Alafu uhunye ameveto petroleum bill

Is Iran in OPEC? If not what have they decided to do with oil supply?

They have agreed to cut supply. Russia too

1 Like

Saudi Arabia pia pia…they had to dip into their sovereign fund to plug the massive deficit in the budget.

yep, but last I heard is they wanted to increase output not decrease.

What sovereign fund? The hole must have been minimal…those Arabs are struggling, I think hiyo fund yao ni ya kubahatisha tu last I read about it. Only country with a sizeable fund is Norway. Canada pia wameumia sana.

True. Qatar imeumia pia. I think that’s one of the reasons walifunga Aljazeera US

The Public Investment Fund PIF. The hole was big as up to a third of their budget is funded by oil revenues