Oil price crashed to 0

[Trango Towers]

Good news for US consumer market.

not at all...no demand means inventory full and industry not using oil. this mean job loses and consumers will have no money.

 

[Blacklight]

Good news for US consumer market.

When there is an industry wide crash, it is never good for the end user, in the long run.

 

[PakSword]

Production cost, $/bbl budget = the fittest of the fittest will survive = Bankruptcy = Mergers & Acquisitions.

Should I start buying oil??

 

[HAIDER]

not at all...no demand means inventory full and industry not using oil. this mean job loses and consumers will have no money.

Vehicle industry all of sudden heading toward Hybrid. Due to CORONA airlines grounded. But, it is best time for long term contracts for major oil consumer industry.

 

[Blacklight]

Should I start buying oil??

Depends if you are buying WTI or Brent - nonetheless oil = lambi race ka ghora = YES!

 

[PakSword]

Depends if you are buying WTI or Brent - nonetheless oil = lambi race ka ghora = YES!

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????

 

[Suriya]

https://twitter.com/x/status/1252303575054761996

 

[migflug]

minus 40 now

 

[HAIDER]

Should I start buying oil??

Look to buy Hybrid car .. lol .. or build your own electric car

 

[StormBreaker]

WTF!!!!!!!!!

 

[FOOLS_NIGHTMARE]

Have a look at this guys!!!
https://www.theguardian.com/world/2...as-un-sounds-alarm-on-to-covid-19-relief-fund

 

[ZAC1]

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

 

[BHarwana]

Pakistan should unlock the country and start running the business. It is in best interest now.

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

These are May contracts.

 

[StormBreaker]

My goodness @Blacklight @StormBreaker

Do you understand what it means to the entire refinery, petrochemical....and related industry...and all those future contracts... and tripple leveraging...

My dear God...this is War!

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....

 

[Death Professor]

Look to buy Hybrid car .. lol .. or build your own electric car

I really enjoyed the video, looks super fun to build one. Wished, I had the resources and time to do it