What happens now that oil prices are negative?

The Devil

2020-04-22 2:32 am

It goes against oil futures and sells for a huge profit after being stored. It doesn't rot. It's already a million years old.

👍 3 👎 0

[匿名]

2020-04-22 4:11 am

Oil prices have never been negative, the only thing that was negative are futures contracts that expire in May. Those contracts are at $9.07 today.
The only people who will lose are speculators who purchased oil for delivery May 20th but had no intention of taking delivery.

👍 2 👎 0

[匿名]

2020-04-22 2:48 am

Price is low because there is a glut and refineries aren't buying. Eventually there is no place to put any more so oil wells are capped and pipelines shut down. When we need it again, it costs a lot to reopen so the price of fuels will skyrocket. Worst hurt will be the fracking companies whose cost of extraction is much higher than wells. Many smaller companies will go out of business. Thousands of people lose their jobs.

And AOCs think it is funny and it makes her happy. If I recall correctly, her degree is in Economics from Boston College - - - - - doesn't help their reputation much, does it?

👍 2 👎 0

[匿名]

2020-04-23 12:29 am

Negative?
I guess they pay you to take it.

👍 1 👎 0

[匿名]

2020-05-09 8:40 pm

Nothing. Our government (dear old Blighty)claws back MASSIVE amounts of revenue from forecourt sales. When we eventually get back to normal the pum0p prices will probably GO UP. This it the way of the MODERN WORLD today bro.

👍 0 👎 0

[匿名]

2020-04-22 12:42 am

Most of them are not.

👍 0 👎 0

wobafetty

2020-04-22 12:30 am

I suddenly have a use for over 1000 fuel canisters.

👍 0 👎 0

[匿名]

2020-04-22 6:06 am

Cheaper gas! That and less traffic are the only two positives right now.

👍 0 👎 1

[匿名]

2020-04-22 3:51 am

WRONG FORUM. ASK AGAIN AND / OR OR MOVE YOUR QUESTION TO EITHER BUSINESS OR ECONOMICS.

👍 0 👎 2

What happens now that oil prices are negative?

回答 (9)