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WHAT???? Oil prices could fall below zero: Analyst THEY WILL PAY YOU TO TAKE IT

 
Hamburgerwagon
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03/18/2020 01:23 PM
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WHAT???? Oil prices could fall below zero: Analyst THEY WILL PAY YOU TO TAKE IT
[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.
Anonymous Coward
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03/18/2020 01:27 PM
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Re: WHAT???? Oil prices could fall below zero: Analyst THEY WILL PAY YOU TO TAKE IT
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?
Hamburgerwagon  (OP)

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03/18/2020 01:28 PM
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Re: WHAT???? Oil prices could fall below zero: Analyst THEY WILL PAY YOU TO TAKE IT
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?
 Quoting: Anonymous Coward 14931885


It would mess up Russia real bad. WW3 is all some people will have left to do at that point.
Jake

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03/18/2020 01:28 PM

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Re: WHAT???? Oil prices could fall below zero: Analyst THEY WILL PAY YOU TO TAKE IT
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?
 Quoting: Anonymous Coward 14931885


it would bankrupt russia all their social programs are paid for with oil

Last Edited by Jake on 03/18/2020 01:29 PM
The remnant of Jacob will be among the nations, in the midst of many peoples, like a lion among the beasts of the forest, like a young lion among flocks of sheep, which mauls and mangles as it goes, and no one can rescue.
Anonymous Coward
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03/18/2020 01:29 PM
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Re: WHAT???? Oil prices could fall below zero: Analyst THEY WILL PAY YOU TO TAKE IT
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?
 Quoting: Anonymous Coward 14931885


Ummm... what are you going to do with that gooey mess? Seal your roof? Driveway? peace
Anonymous Coward
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03/18/2020 01:29 PM
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Re: WHAT???? Oil prices could fall below zero: Analyst THEY WILL PAY YOU TO TAKE IT
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.





GLP