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WHAT???? Oil prices could fall below zero: Analyst THEY WILL PAY YOU TO TAKE IT
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In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Jake:MV80MzExNTI4Xzc4NTE5MjAzXzVGOTc5OTk3] [quote:Anonymous Coward 14931885:MV80MzExNTI4Xzc4NTE5MTU3XzI3Q0IxNzky] Now that would really mess up the Mid East. That is all they have. I’ve got room for ten barrels. Where do I pick them up at? [/quote] it would bankrupt russia all their social programs are paid for with oil [/quote]
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link to www.foxbusiness.com (secure)
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Oil is a 100 million barrel-per-day market, but Sankey says it’s possible that the economic fallout from the pandemic could zap demand, creating a 20 million barrel-per-day surplus.
He says the “physical reality” of the market is that oil is pumped out of the ground and has to be consumed or stored. When the cost of storage goes high enough -- or space runs out -- companies might pay customers to take it.
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