Today the price is $30 from a high of $108 in 2014. Speculation is that it will be at $10 soon. Uncertainty about Chinese economy, strong dollar and expected return of Iranian oil, are being blamed. Oil producing countries are running deficit economies, oil companies are retrenching and stock exchange markets are losing billions each passing day.
http://oil-price.net/cartoons/oil-prices-headed-lower.jpg
http://money.cnn.com/2016/01/12/investing/oil-prices-below-30/
Is it at 30? I thought last time I heard it mentioned it was turning back at forty-something being the lowest. Oil should be cheap. They dont manufacture it or grow it. And they should have used it well when it were. Not buying Lamborghinis and building fancy islands.
ooh fuck. I checked. Thirty it is.
None of these could explain the current drop sufficiently. There has to be some other invisible force that we are yet to be aware of.
Swali nyeti ni, with manufacturers claiming that fuel is a factor in production, kwanini bei ya unga haishuki or am i missing something here. @Dunya kuja u saidie mimi
Demand and supply mblo
Hii ni Kenya, vitu zinapanda overnight lakini kushuka ni miaka
the usa is winning this economic war hands down.
it all started with the passing of fracking bill n 2011 by the us senate…
nigeria ia getting into deeper shit daily
That is a good lie that has been accepted universally almost. There is more to it.
Exploration and development of oil wells is not a cheap activity.
He is right. The price is where it is because of demand and supply.
Look at the forces behind the supply and demand.
Forces behind supply: USA, Canada, Iraq.
Forces behind demand USA, economies in EU
Bottom line is there is more oil supply than the demand hence low price
And with all this, ERC will announce a price hike tomorrow blaming it on ooh sijui weak ooh sijui we import processed products etc
mbona watu walipenda conspiracy theories namna hii, hakuna kitu inaweza chukuliwa at face value, kila explanation lazime kuwe na “illumati” ndio iwe accepted
The problem is, the dollar is too messed up to serve as a reserve currency.The oil market is simply cleaning up this mess. We could soon have alternative oil index.
how come international crude price has decreased by around 68% Oct 2014-jan 2016 whereas in Kenya fuel prices are ranging between 18-35% decrease over the same period 
Could you explain why both importers and exporters of oil are complaining despite the falling prices. Why are you still paying the prices you paid five years ago. Someone is cleaning someone. The smart dollar is clubbing the dumb dollar.
Are you aware that US is now the world’s top oil producer? From position number 3 in 2012. Going by your theory, the US is sabotaging itself. Right?
if lower prices are not being felt by consumers in Kenya doesn’t mean it ain’t working everywhere, Google graph ya a gallon of gas in USA before useme kila mtu analia