/biz/ - Business & Finance

oil will go the moon. Stop your bear cope

>>18424758
OH NO NO NO NO NO
A 30m cut was needed. Oil will drop to 10$ in 4 hours hahahahahahaha.

>>18424774
dream on fag, they now still have a 5ml+ daily oversupply

>>18424774
Yeh, cos there's so much demand for it. Needed 30m barrel cut just to tread water.

Oil is fucked but Mexico is giving Trump something in return for getting their way it looks like, or that's at least what Mexican twitter is expecting now. If he's getting something of value and not a wall the Dems are fucked 100% now.

>>18424758
Oil transpo and storage moons first along with specific undervalued cos and sector etfs, oilcos with retail lag the curve, but all still up - untethered from price of oil, which will be max volatility in short run, agreed cuts become irrelevant when every storage solution gets full including tankers sitting at sea, production stops anyway, oil obv goes back up eventually, thus market prices that into anything that can survive the trough
or
end of civilization in which case none of your market choices mattered anyway

actual retard here

Can someone explain why this is good? I get that ending the price war helps OPEC recover, but I thought they had to reduce it by 30M bpd

>>18424758
>>18424774
>>18424809
>>18424828
>>18424844
>>18424932
>>18424964
The US will open back up in 3-4 weeks
Oil investment is a long run & wont moon for a year
Buy everything now while it’s still cheap
I’m fucking tired of giving you people financial advice when none of you take it
You go back to your Ponzi scheme crypto dollarinos that never go anywhere.

>>18424990
It's not.

>>18425041
Then check the prices for the 1 year futures. You cannot store oil anymore. That's why the spot price will crash.

>>18424990
It will not be good at all short term, even if it pumps it will be brief and then go even lower. Long term eventually it will recover and adjust better once the pandemic is stopped.

>>18424990
good for people in SHORT positions.

>>18425041
>The US will open back up in 3-4 weeks

HAHAHAHAHAHAHAHA

In my area of the state current projections by multiple hospitals in the area say we aren't expected to hit our peak until late May to early June

>>18425041
>The US will open back up in 3-4 weeks
>Why people don't take my financial advice

Lfmao

>>18425156
>>18425360
>>18425460

Will this mean it’s gonna cost me a fortune to fill up my car again?

>>18425571
Hopefully

>>18424758

Oil companies are gonna be selling less, so yeah they make more per barrel but aren't selling shit. Massive layoffs in energy, especially in my hometown of Houston, TX, home to the energy corridor. RIP, city employees getting laid off too, municipal bonds would be going bust but the Fed already said they would buy the worthless city bonds.

>>18424758
It's good news for oil bulls as it shows that even countries like the US are willing to play along with the oil cartel.
Not a big deal in the short term, though, as demand will plummet throughout the rest of the year due to travel restrictions and this cut won't be nearly enough to prevent low oil prices.

>I just have to take a little green dildo then I get my favorite big red one jammed in my ass I know it!

All these oil bears pissing themselves in the same thread is kind of funny. It’s gonna be a great Monday.

>>18425041
>You go back to your Ponzi scheme crypto dollarinos that never go anywhere.

Dude's calling crypto a Ponzi scheme when everything about our civilization and modern economy requires eternal growth.

>>18425727
And what do you think makes that growth happen? Fucking oil

>>18425776
Sure, but $10 a barrel first

bump

So doesn't oil start trading at 4pm est? Or not till 6? People were saying 4 in other threads

So is my uso call gonna blow up or take a shit?

>>18427604
blow up

>>18427604
get rekt son, make sure you close it if you get any profit, people wanted 15-20ml barrels and got 9.7.

not any new news on the oil, this was already a sealed deal last week, Mexico just needed a little bitch slap.
the on paper cut is nowhere near what is needed
also, as far as I know, no one got any commitments out of the misbehaving Saudis so the 10M cut is going to be offset by their continuation of the price war tactics like flooding. I'm feeling a baby bull by ""investors""" that use headlines to make purchase decisions, followed by a nice bear reality setting in on markets. We will see 20 again boys

>>18427661
>>18427679
Hmmm I see

Warned you fags, new lows soon

>>18425156

>Implying Trump won't just dig a new hole or use some different mines/ caverns.

Are you seriously this retarded?

>>18428599
Certain sector assets are now untethered from WTI / Brent because various reasons

>>18428637
Do you really think millions of barrels of oil can just be moved to random holes in the ground every day for potentially months?

>>18427604
Well USO is already down 8% so....

>>18424758
I hope the Saudis fuck them good and take it down to $10 a barrel

>>18428599
Have you sold your oil calls yet?

>>18424828
Its green already. It’ll get greener.

>>18428599
Check again