Oil price crashed to 0

[Blacklight]

Don't know anything about oil tbh.. Have never bought any commodity before and don't know how to buy it. lolll

But the price is really this low????

Supply and Demand. Lets see what Opec+ does. Last round Shale producers got protected, but this time around

Short term : Closure of oil production, Loss of employment, Production fields halted will result in some time for resumption

Medium term : Poverty, Existing contracts disputes... I am sure I can write down a list, But I am literally holding my head right now... It is like the worst news one could have thought, Need time to digest it....

How many VLCC's had you booked?

 

[StormBreaker]

So when petrol is going to be cheap in pakistan?
Only agri based countries will survive in this kind of mess

Apni apni pari hai bas ? “Petrol kab sasta hoga”, Do you all have any idea how if this stays constant or further downs, Will wreck a havoc in the world ? Really worst one....

Dua karo dua...

Supply and Demand. Lets see what Opec+ does. Last round Shale producers got protected, but this time around


How many VLCC's had you booked?

Ye kia hota hai?

 

[Ace of Spades]

Apni apni pari hai bas ? “Petrol kab sasta hoga”, Do you all have any idea how if this stays constant or further downs, Will wreck a havoc in the world ? Really worst one....

Dua karo dua...


Ye kia hota hai?

This will be the end of dollar as trading currency if the trend continues.

 

[dBSPL]

There is no need exaggeration. Contract periods are coming to an end, people who have contracts should take this physically until tomorrow, or cash out. There is no place to store more oil and stopping production is more costly than distributing oil for free. Upward movement of oil will start when economy wheels start to spin again. There is a range of opportunities to partially subsidize what Covid creates for energy-dependent countries. It cannot compete with Covid's damage to economies, but it can be seen as a small bonus. The situation is more difficult for some OPEC countries.

 

[StormBreaker]

This will be the end of dollar as trading currency if the trend continues.

Best time to buy gold or crypto?

 

[Ace of Spades]

Best time to buy gold or crypto?

Gold

 

[StormBreaker]

There is no need exaggeration. Contract periods are coming to an end, people who have contracts should take this physically until tomorrow, or cash out. There is no place to store more oil and stopping production is more costly than distributing oil for free. Upward movement of oil will start when economy wheels start to spin again. There is a range of opportunities to partially subsidize what Covid creates for energy-dependent countries. It cannot compete with Covid's damage to economies, but it can be seen as a small bonus. The situation is more difficult for some OPEC countries.

Sir,

What do you see about the starting of the wheels of industry ?

 

[HAIDER]

Best time for Pakistan to pay off circular debt and have long term contracts. Revisit Qatari LNG contract Nawaz and co sign for 15 billion dollars. Actual value of this 15 billion is now almost half. ... i am going to have heart attack... lolzz... a SOB who didn't added price review clause in this contract for few dollars in his pocket .

 

[Sine Nomine]

Short term : Closure of oil production, Loss of employment, Production fields halted will result in some time for resumption

Medium term : Poverty, Existing contracts disputes... I am sure I can write down a list, But I am literally holding my head right now... It is like the worst news one could have thought, Need time to digest it....

World War

 

[Blacklight]

Ye kia hota hai?

Very Large Crude Carrier - the one at the top

 

[HAIDER]

Sir,

What do you see about the starting of the wheels of industry ?

Pakistan see less impact, already 40,000 Pakistani stuck in Gulf states due to loss of jobs. Mainly Indian,Bangladesh,Phillipinos etc there .... Now Pakistan major chunk of foreign exchange comes from EU and North America.

 

[Ace of Spades]

Our lives are now built around Oil...and byproducts.... the computer ...the fridge.... roads....

It is not just the oil...but everything around .... US Shale/Canadian ones.... going belly up means not good for larger economies...putting more pressure on the rest of Geopolitical Landscape....

At $20 US/Canadian producers will still be in deep red.... and there is just too much oil at sea..even now that OPEC has cut production...but the supply keeps adding up....

Chain reaction is going to be seen on Derivates as well...the Biggest of Bubbles....

KhooniVirus is not done yet...and you never know it might have a cousin!

Momentum of History just keeps accelerating...adding new Vectors.... I cann't even model it now!

On the positive side, expect breakthrough in vaccine development in upcoming days if the trend stays the same way.

 

[StormBreaker]

On the positive side, expect breakthrough in vaccine development in upcoming days if the trend stays the same way.

World has gone too unpredictable in the last month that I have stopped believing in assumptions and predictions.

This math is out of the logarithmic world...

@Mangus Ortus Novem @Ace of Spades @Blacklight @dBSPL

Do you think UN should call for an emergency action and introduce some measures to reduce the intensity of lockdowns by using strong SOPs in every nation ?

Reopen factories, businesses, offices, Normalize the Supply-Chains to at least some extent, But to make sure to force the public into wearing masks, Using gloves, sanitizers, Follow distancing of atleast 4feet ?

In other words, “CoViD ke moo pe akar laro nakay chupkar” ?

I know how much lockdowns are needed in this time, But all this would result in a disastrous world, Nothing would be same...

 

[Blacklight]

World has gone too unpredictable in the last month that I have stopped believing in assumptions and predictions.

This math is out of the logarithmic world...

Smart people have realized, that every thing in this universe is dependent on one word: کن

 

[dBSPL]

Sir,

What do you see about the starting of the wheels of industry ?

I do not think that pessimistic psychology on the markets will improve unless the logarithmic pace of the global pandemic is cut off and we see a plateau. May is very critical. Even so, due to the losses of the first 4 months, we will have to face a bigger crisis than the 2008. As normalization is delaying, the economic crisis that will strike is becoming a bigger wave. Frankly, I am only focused on gold movements in my personal portfolio.It should not be forgotten that the crisis where oil and foreign currency parities are in this situation can also hitcrypto markets which are already welknown as abnormal volatile markets. I'm not a market expert, these are personal opinions, but if you ask me, i prefer to stay in safe harbor while perfect storm approaching.

On a country scale; We are now entering a period in which domestic production and domestic industry "must" become the priority of all countries.