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WHAT???? Oil prices could fall below zero: Analyst THEY WILL PAY YOU TO TAKE IT
Ms Sans Serif
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[quote:Anonymous Coward 78572193:MV80MzExNTI4Xzc4NTE5MjI0X0YzQzU2RUI2] I don't see that happening. We are going to see more and more Wells getting shutdown. It's always about the money, They will shutdown before it comes to that. [/quote]
link to www.foxbusiness.com (secure)
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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