Asia Stops And Drags Oil Nations Along

For  three months, China's economic data shows that it has all but halted South Korea and Taiwan have similar dark out looks, save for Japan.


Image from https://en.wikipedia.org
When Asia is slow and America grows, Oil and commodities hurt.

Today oil prices dropped as news of the region shows that China, though not yet in a recession ,is not going anywhere. At least for now.
Brent Crude, the global benchmark finished at $49.06, shedding 8% while WTI dropped $46.

Countries should brace up and accept the reality that the world will no longer turn on Oil even as it remains invaluable.
Barclay's report shows that China consumed less oil consistently for the past three months to the tune of 226,500 bpd.

Soon, we think, that there will be a form of  reversed OPEC. Namely that if producing nations keep pushing Oil to Asian nations, then OPEC will be in a take it or leave it situation.

Russia has already admitted that it would run out of money by the Q1 of 2016. 

Saudi Arabia is cutting subsidies on water, gas and other utilities. 
People are throwing stones in Venezuela, mainly at themselves. 
Angola is begging for foreign loans
Nigeria that would not devalue its Naira has admitted, via its President in India, that the country is hurting.

Somewhere in all this, is the question of Innovations. People are finding fast alternatives to fossil fuel.

The US, for instance, adds more Wattage to its grid in a day than in all of 2008. Those mega watts would power Lagos.

Ivory coast, Chile and Liberia are happy. Cheap diesel recruit more coffee and rubber addicts.

Nigeria for instance is owing China $650 Million, according to the DMO. So exporting to China is out for now. They won't pay.

Nigeria's NNPC has announced an operating loss of N60 billion and N70 billion for August and September.

NNPC has said Nigeria has its own strategy even as it does not have an energy minister. It is called PAVE. According to Kachukwu, the remedy stands for "Produce locally, Add Value, export and earn foreign Exchange.

An audacious goal for a nation that imports tooth picks.
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