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Oil Price what on earth???

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#1 by josealvesjr » Mon Apr 20, 2020 11:35

Quote:oil is so cheap that producers are paying to stockpilers to take barrels off their hands.

US crude crashed on Monday, falling below $0 to $-1.43 -- the weakest level since NYMEX opened oil futures trading in 1983.
US oil prices turned negative Monday for the first time ever as the great oil crash of 2020 took a bizarre turn.

Crude finished at -$37.63 a barrel, marking the only time it has gone below zero since oil futures began trading on NYMEX in 1983.

The historic collapse shows just how terribly oversupplied the oil market has become. There are real fears that the world will soon run out of places to store barrels.

Producers are essentially PAYING to get rid of their barrels.

What on earth is going on? Where is this going to??
Last edited by josealvesjr » Mon Apr 20, 2020 11:50 » edited 1 time in total
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#2 by valerie » Mon Apr 20, 2020 12:11

The end of the world.

It's the signs of the times.

Yep, one could call it warning signs.

-Weather becomes unpredictable with all sorts of disasters
-Waters/Oceans become contaminated
-Resources depleting
-Families killing each other
-Riots and global unrest
-Wars and rumors of wars
-Disease of unknown origins
-Plagues
-Greed
-Sxx Exploitation and you know the rest
-Wolves in sheep's clothing
-Drought and famine
-Extinction
-..............and the absolute worse=========NO Toilet Paper! :mrgreen:
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#3 by valerie » Mon Apr 20, 2020 12:14

Unleaded Gasoline in my area is $1.49 gallon, as of yesterday.

Today I don't know since I have not gone any where today. The above is what I
saw yesterday. My guess is, it's lower today.
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#4 by josealvesjr » Mon Apr 20, 2020 12:21

valerie wrote: Unleaded Gasoline in my area is $1.49 gallon, as of yesterday.

Today I don't know since I have not gone any where today. The above is what I
saw yesterday. My guess is, it's lower today.

It is indeed getting scary and I agree this will end badly for the human race. But we can´t say that we didn´t deserve it.
Last edited by josealvesjr » Mon Apr 20, 2020 12:23 » edited 1 time in total
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#5 by suraraj » Mon Apr 20, 2020 12:24

Do not worry, companies will pay you to use their oil and this is going to happen. In my place the price of petrol is still 0.94 dollar a liter. The prices are artificially kept higher and the major portion is collected as taxes by the governments
Last edited by suraraj » Mon Apr 20, 2020 12:27 » edited 1 time in total
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#6 by josealvesjr » Mon Apr 20, 2020 12:29

suraraj wrote: Do not worry, companies will pay you to use their oil and this is going to happen

This oil business stuff is only a part of the package if you look at the big picture worldwide a big conflict is at hand. And I mean a huge conflict.
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#7 by suraraj » Mon Apr 20, 2020 12:31

I predict a war on China by the United states as this being a election year in the US. This may be the start of a full fledged conflict in the future
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#8 by josealvesjr » Mon Apr 20, 2020 12:34

suraraj wrote: I predict a war on China by the United states as this being a election year in the US. This may be the start of a full fledged conflict in the future

There cannot be such a thing as a conventional war between the US and China.
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#9 by Arvind9 » Mon Apr 20, 2020 12:37

India is not a oil producing country we get crude from Saudi Arabia,Iran,so India is not effected by fall in oil prices,government has increased exercise duty,if one goes by oil prices in the international market petrol should be Rs 40 per liter but in my city of Mumbai its Rs76 per liter petrol price has not come down in line with falling prices,its constant as it was before the beginning of the crisis,so the government is making money from fall in oil prices by not reducing it for the consumer,right now no one would mind it because everyone is in lockdown demand is low,I filled up my tank 20 days ago and its still full
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#10 by tasman1 » Mon Apr 20, 2020 13:55

valerie wrote: Unleaded Gasoline in my area is $1.49 gallon, as of yesterday.

Today I don't know since I have not gone any where today. The above is what I
saw yesterday. My guess is, it's lower today.




1.40 , one litre , same for last 2 year , we ask why , caltex say :silent: or you will have nothing, you are Tasmania
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#11 by tasman1 » Mon Apr 20, 2020 13:59

josealvesjr wrote:
suraraj wrote: I predict a war on China by the United states as this being a election year in the US. This may be the start of a full fledged conflict in the future

There cannot be such a thing as a conventional war between the US and China.





Agree with that

Future is civil war and unrest in every corner of the globe
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#12 by Arvind9 » Mon Apr 20, 2020 14:39

There could be civil unrest due to unemployment,India's Prime minister says there is lot of scope for the youth to do well,HOW world is in recession everyone is in lockdown;Banks are refusing to give loans without guarantee,financial system will collapse if they start contributing money,actually governments are scared that the magnitude of the problem will get out of hand they dont have the means to hold things together for long,war against China who has the money for a war,governments would do well if their own citizens did not start going crazy
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#13 by suraraj » Tue Apr 21, 2020 01:31

We are going to be paid in Oil barrels for surveys in the future
This may be like this in the future :lol: :lol:

1,794,212,152 20 Apr 2020 12:58 PST Survey ySense Surveys - C4740412 - Complete 1 barrel of crude
1,794,140,560 21 Apr 2020 12:23 PST Survey ySense Surveys - F4740382 - Complete 1.5 barrel of crude

Hope the prices stay in positive US dollars and not like yesterday crash
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#14 by tasman1 » Tue Apr 21, 2020 02:19

suraraj wrote: We are going to be paid in Oil barrels for surveys in the future
This may be like this in the future :lol: :lol:

1,794,212,152 20 Apr 2020 12:58 PST Survey ySense Surveys - C4740412 - Complete 1 barrel of crude
1,794,140,560 21 Apr 2020 12:23 PST Survey ySense Surveys - F4740382 - Complete 1.5 barrel of crude

Hope the prices stay in positive US dollars and not like yesterday crash





Do not worry oil will stay in positive , current price is gone up , skyrocketing, price now full 1 cent

OIL
0.0100

For surveys , I will not do any survey under 70 barrel of oil
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#15 by suraraj » Tue Apr 21, 2020 22:04

tasman1 wrote:
suraraj wrote: We are going to be paid in Oil barrels for surveys in the future
This may be like this in the future :lol: :lol:

1,794,212,152 20 Apr 2020 12:58 PST Survey ySense Surveys - C4740412 - Complete 1 barrel of crude
1,794,140,560 21 Apr 2020 12:23 PST Survey ySense Surveys - F4740382 - Complete 1.5 barrel of crude

Hope the prices stay in positive US dollars and not like yesterday crash





Do not worry oil will stay in positive , current price is gone up , skyrocketing, price now full 1 cent

OIL
0.0100

For surveys , I will not do any survey under 70 barrel of oil

How many barrels of oil have you got yesterday?
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