/biz/ - Business & Finance

Oversupply.

>>18225182
Off what? I’ll literally give you 50k if you tell me how?? I have another 300k on the sidelines. No larp.

>>18225165
I'm clack from the future.

>>18225116

So gas stations pay you to fill up? K keep me posted

>>18225116
Jewish tricks

>>18225116
I shouldn't have pumped my car full

>>18225116
probably an april fools joke

>>18225264
Dude bitcoin is dumping to 1k

>>18225116
Negative you say? If they reach 0 I'm giving them a nice place to store all that unwanted oil in my car's tank and canisters. The thought of this makes my PP hard.

>>18225221
kek check the filename son

coof coof it's okay I just drank some water the wrong way reading this bullshit

>>18225116
Let civilians hoard/store crude oil in their garage, TP style.

>>18225283
How is that fucked you retard? Cheap oil is a good thing, who cares about the boomers and sad wageslaves invested/working in the oil industry?

But gas will still cost $2.60 in Arizona

Laughing at all the retarded anons in /cvg/ who kept arguing you needed to stock up on fuel.

> pandemic where everyone has to stay at home
> "BETTER BUY PETROL"

>>18225116
I'll take 100 billion barrels

>>18225466
Dude in Alabama there is a country store selling fuel for 1USD a gallon , plus free sandwiches and water

>>18225116
Biggest buy signal ive ever fucking seen. No way the oil cartels ever let this shit happen. Get ready for rigs to start blowing up. Oil wells to catch on fire.

Price of crude is about to Jupiter, fuck moon.

>tfw comfy in my oil investments waiting for rocket time.

>>18225564
>plus free sandwiches..

Uhh... no. Hard pass on your Corona burgers, "Scooter".

>>18225440
the price is below cost of production, way below
let alone actually operating your company, overhead, taxes, new development etc
oil companies will go out of business or oil wells start catching jewish lightning
expect a severe shortfall if real output followed by a massive upswing in prices
not sure if they'll let ordinary people trade or just close the futures market

Glad I didnt listen to /biz/ and buy oil. I'd be fucked from /biz/ advice once more

Coof on boomers

>>18225601
In normal circumstances I would expect an arab jew to do a kaboom on a well but I think that demand is so low that if it really did happen the price wouldn't go up. This would expose the jews for their weakness and it's over for oil.

>>18225116
priced in

>>18226342
More like priced out. I can't afford something for negative dollars!

I found a way to cure corona

>>18226744
Liquidity to buy

>>18226582
why is RDS:B up? I want to start DCA'ing that and TOT and both are up today, kind of a disappointment.

Who else is buying the new Carnival 13% bonds?

>>18225116
󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡󠛡 󠛡 󠛡 󠛡 ▲
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▼󠛡 ▼󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡󠛡 󠛡▼󠛡 ▼
󠛡 󠛡 ▼󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 ▼
󠛡 󠛡 ▲󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 ▲
▲󠛡 ▲󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡󠛡󠛡 ▲󠛡 ▲
󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡▼󠛡 ▼
󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 ▼

OH NO NO NO

>>18225116
>A....april f...fools guys.... HAHHAhaha!!

>>18225116
Nice. Fuck the (((oil industry))).

>>18225116
Tanker chads rise up!

biz should already know that with jews you lose

>>18227020
because you're british

>>18225194
I would

>>18227020
>not knowing the difference between crude and petrol

>>18225440
it's fucked because oil companies have insane debts and won't be able to pay off their debts with deflation, so they will go bankrupt.

>>18225221
this has been out for weeks? not an april fools joke

>>18224361
ROLLINGGG

USO is looking ripe today

>>18225116
couldn't trump just slap a $10 tariff on oil imports? then keep raising it if the saudis keep pumping. it'd be a temporary band-aid until demand picks up.

>>18226755
woah

>>18225116
Oil is dead anyway.More and more people are using electric cars or public transport, more and more companies are reducing plastic in their products, there's no demand any more, despite all the extra oil shale brings.

>>18226019
Wait for the bottom. You've got a few weeks.

>>18228508
Hmm..

>>18229274
Renewables.

>>18225116
Grug here, can someone explain how this is possible?

The only reason China has an economy at all is because of America. They will return to their primordial bat eating mess of a civilization shortly after America collapses.

>>18229399
So how does that drive the price of oil negative? Do the consumers of oil have more supply than the producers in that case?

>>18229426
There is no demand, but supply is overflowing. Producers are desperate to sell the oil, but no-one is buying. If it cost $20 a barrel to produce the oil, but they can only find a buyer willing to buy for $19.50, then the oil producers lose 50 cents for every barrel.

>>18229426
dunno much about it. but i think there might be costs/problems with shutting down and restarting oil production. so they keep the spice flowing even at a loss in the hopes that prices go back up soon.

>>18225116
Pay me to dump it in the local river

>>18228662
You're fucking stupid and so is everyone on here who try's to give investment tips even though you don't know jack shit about the market. Our NAVY, ARMY, AIRFORCE will always be the biggest consumer of oil. There will be no solar paneled battleships and aircraft carriers anytime soon. All plastics are made from crude oil. TVs, Hair Dryers, Gun parts, electronics, etc. Oils is dead.....lol. Wait till the next war. Solar energy will nosedive and oil will skyrocket. Oil will outlive all of you.

>>18225516
Yeah. The best time to buy a stock is when the prices are really high. This is why you should never shop during a 50% off sale.

>>18225116

the same news organizations that are telling you muh russia and muh covid are the ones that ran around screaming their asses off about peak oil.

>>18225194
turn me green plz

>>18225016
WHY IS EVERYONE GREEN I WANT GREEN WHAT DO I HAVE TO DO

>>18225116
How do I buy oil at a negative price?

>>18230115
>>18230115
>Is it already priced in?
most likely
expensive shops have already relocated their merchandise and their current shops are all but empty

the real question is how much longer will this go BEFORE a TERRORIST attack, and i mean a real one not a botched up CIA attempt, happens?

Short
P
Y

Long
C
I

ITT: Literally the dumbest people I've spoke to in years.

>hurr durr corona virus means no more oil forever and were in the future now. Oil is useless. Were all going to have the goverment by us electric cars. We will stop making and using plastic. All the industrial heavy equipment and big rigs will just use Energizer bunny batteries.

Fuck all of you dumb cunts.

>>18230181
::COOF COOF COOF COOF COOF COOF COOF::

cant stay low forever. is this a good buy?

>>18225194
That's hyper deflation

>>18228662
People buy electric cars to virtue signal or they think they will save money. With a drop in fuel prices people go for big dumb trucks and muscle cars.

>>18225170
oil is gay

So whats the best way to profit on this, what do i throw money at if this is nearish to the bottom?

>>18227763
Idk bro, contract prices went up and there will be less ships available for the near future so these companies will have huge gains in the near term but eventually the glut will ease when drills close and then there will be no more customers.

>>18230236
>3x
dumbass

>>18230236
It will be delisted soon

>>18230773
>>18231058
>>18231204
Well i need pointers then. Is USO safe from being delisted?

>>18231266
>>18231160
>>18231098
how new are you faggots ?

>>18225116
>tfw have a warehouse full of oil
>tfw that makes me massively in debt

How am I gonna climb out of this hole anons?

>>18231661
DO NOT HOLD A 3X ETF IN A DOWNTREND

>>18231772
I'm intrigued, tell me more.

>>18225116
We run out of storage for oil and it doesn't hit $0.
It hits under $10 for the majority of blends under $5 in some cases(mostly NA possibly in Iran but who knows) possibly under $1-2 for specific NA American blends (Wyoming sour and Williston sour are at between $1-2 USD rn both of which are cheaper then natural gas rn[which is insane]).
>>18225221
Canadian crude index is currently of 16 minutes ago $7.66, Western Canadian is at $5.08
It is bad, really bad.
Oil storage capacity will be filled worldwide by the end of April.
Related:
https://oilprice.com/oil-price-charts#prices
>>18225283
You doing alright there Albertabro?
>>18225440
Short term yes.
Long term we bankrupt the entire US oil sector outside of the majors and a few zombified surviving shale companies that will take 5+ years to recover.
Long term the SandNigs and Ruskies take back a huge segment of the oil market for years setting America back 5-10 years geopolitically(in terms of how long it takes us to recover foreign policy will probably revert to early mid 2000's during that period until a critical mass is once again reached all of which assumes the cartel won't try and succeed in breaking us again).
>>18225601
Wrong. Oil cartel is responsible they are trying to destroy US production because US production ramps up fastest and beats most of them in pricepoint.
Also with current demand glut reaching critical mass is basically inevitable the only question is how long until normalization.
>>18227020
Basically:
1) Govt taxes and middlemen(transport and your local gas station markup). The loss is on what the producer is making and probably the refiner and owner of the pipes at this point.
2) The collapse will be over the course of at most three days probably one when we realize 0 storage.
>>18228662
Electric cars are fucked with lower gas short run.
Petrochems need oil anyway.
Renewables are a meme, even if your TSLA doesn't use gasoline its electricity is probably generated by natural Gas.

>>18231730
USO isn't a 3x ETF.

>>18229426
Supply has been increased due to OPEC Russia negotiations breakdown triggering a chain reaction among the state-owned companies. Depending on timeframes supply glut ~5 million bpd(even assuming they fail to meet targets doesn't matter see demand shortage) over April possibly more.
Demand has fallen off a fucking cliff due to Corona.
Newest estimates are 22.3 million bpd decrease since crisis start as the average over the month of April(for reference demand before the crisis was just under 100 million bpd).
In case you are wondering:
The Russian position is:
>Have cash reserves
>Have state backing
>Took twenties years to rebuild the oil industry after USSR collapse
>Any cuts to production will be filled either when demand goes up or if over correction by the Americans who will thusly drive them out of the market
>Ergo must kill American shale as it is destabilizing
Saudi's on paper are pro-production cuts for the cartel.
In practice this is probably a coordinated attempt to take out the NA oil industry outside the supermajors(who know how to play nice with the cartels).
Corona gave the opportunity, Russia gave the excuse, Saudi pulled the trigger.
>>18230236
No

NEGATIVE OIL MOTHER FUCKERS

NEGATIVE OIL

>>18228353
Noooooooo

>>18230236
It's being delisted this week.

>>18225116
>Pull up to the pump
>Gas station attendant offers to pump my gas for a small fee
>I recognize this as a Jewish trick
>I can pump my own gas
>Tell him to go fuck his mother's menorah
>He stands nearby and kvetches nervously as I reach for the pump handle
>As I pump my own gas, I notice the numbers are going in reverse into the negatives
>The Jewish gas station attendant starts wailing with a hideous Jewish scream
>He begins to shrink in size as the 52 gallon tank of my H4 Hummer gets fuller and fuller
>By the time my Hummer is full, he has fully transformed back into his natural rat-state
>He squeals at me and scurries back into the gas station
>I grab the printed receipt and follow him
>He is cowering in the back office standing in front of a locked cash back
>"G- Go aw- way, goyim! I n- need this to survive in this anti-semitic woyurld."
>I don't listen to his scheming words though.
> I hand him the receipt that states "Pay to customer: $24.78"
>The Kike shrieks like a witch and tries to bite me as I reach for the cash box
>I easily brush its impotent attacks aside and open the box
>Inside are three gold bars, $350 in cash, and 7 foreskins
>I take my money and leave
true story

>>18233741
Yes

>>18233547
Thoughts on TOT? From an FA perspective they look really strong.

>>18230258
Technically yes, but he was saying if you counted oil as it's own currency.

Lopez Obrador Is doing an amazing job I see!

I’m in

>>18234744
Pepsi lady maybe?

dayumn

>>18230692
gg your credit is fucked now

>>18235457
lol

25

>>18234091
Been on /b/ when in HS 2010 and now just lurk /biz/ and /pol/ back then but too many libcucks and redditfegits

>>18234744
AMD

>>18236126
Be honest, Matt is that you?

>>18236552
i want to see the body
not gonna believe anything involving craig without ironclad proof

>>18225194
brainlet

put this infected retard out of his misery

>>18236789
regardless, you aren't the demographic that is being referred to. however you made your money it was unlikely that someone else did the same and is wasting away as a slave to the system. im guessing you made money off of a crypto a few years ago

>>18235934
do none of you faggots have a savings?

>>18226755
Peak based

test

>>18237018
>>18237046
Yes, people are not being wilfully ignorant right now, everyone that could panic have already panicked.
It might still go down based on pure hysteria, and I'd love that trust me, but there is no ground to have any certitude as of right now.

>>18236999
If the Tarrifs go through, would the Sauds consider trading oil for anything besides the USD just to fuck over the US?

>>18236931
Poor guy died for our sins

>>18236126
He did allude to tarries during the briefer though

>>18237078
uses a ton of electricity to run anon.

not green just yet!

>>18225302
What has this world become ....

>>18225440
>t.

>>18229274
>>18230199
Git gud.

>>18225116
>oil companies will pay people to take their oil instead of cutting production
wut?

>>18225302
Kek

So will you be back on Fri to give some advice on tickers?

>>18236435
>>They're really going to have to raise minimum wage soon
>small businesses die
>workers laid off
>inexperienced unemployed people struggle to find work
>but now the workers can afford a cool car!

>>18236187
What's the point of filling gaps?

>>18235934

Judaism?

>>18237395
>Cheaper to give away the oil than to slow down production in the long run, I guess.
Maybe in the short run but the Saudis can outlast anyone and they really want to drive everyone out of business. At some point its cheaper to turn off the pumps than to sell at a loss forever.

>>18237390

>Wyoming asphalt sour

Literally who? Nobody cares about the price of the leftover crap that they scraped out of the pipeline and are now trying to get rid of.

>>18225116
Coof check

Also kek

>>18227687

>article date

stop being a fucking brainlet anon

>>18238215
>Midlate April is when the storage runs out.
Source?
I have a lot of my money in XOM at 38. I was too early on this one, but I'm going to long that bitch.

>>18226755
>󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡󠛡 󠛡 󠛡 󠛡 ▲
>󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 ▲󠛡 ▲
>▼󠛡 ▼󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡󠛡 󠛡▼󠛡 ▼
>󠛡 󠛡 ▼󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 ▼
>󠛡 󠛡 ▲󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 ▲
>▲󠛡 ▲󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡󠛡󠛡 ▲󠛡 ▲
>󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡▼󠛡 ▼
>󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 󠛡 ▼
Now its green like the rest of this infected board

>>18238720
So fucking based

Cheap oil is a good thing

>>18233437
The anon on /pol/ that predicted Italy falling first and March shit hitting the fan mentioned plastics will do well in that screenshot

>>18233690
Made me kek

So i just spent 15 minutes reading this shit. Buy OXY around 6 dollars with my Trump bucks?

>>18237390
Whelp. Time to repave all the roads.

>>18240545
I have calls on $2 WTI for 10/16. Am I winning or losing

>>18225116
Hey anon wanna know something?
ITS NOT A DOG!!!!!

>SOON

>SOON

>SOON
https://www.youtube.com/watch?v=eNdFMROBx8M

>>18240714
I guarantee morons like you have no future.

You negotiate the fucking contract dumbass.

Selling was the mistake

>>18240785
Blessed poster. See you tomorrow