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

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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

Worried

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.

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Kwanza Venezuela wameona fwaya.

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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

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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

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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