/biz/ - Business & Finance

[Anonymous No.18560165]

WTF is happening to oil

[Anonymous No.18560173]

>>18560165
just a flu bro

[Anonymous No.18560190]

>>18560165
It gets what it fucking deserves

[Anonymous No.18560195]

>>18560165
Cargo and Cruise ships arent sailing as much, and the number of daily commutes has plummeted, while the oil pipelines still pump it out. Simple supply and demand.

[Anonymous No.18560210]

>>18560195
CAN THEY STOP THE PIPELINES?

[Anonymous No.18560216]

>>18560165
Coof coof coof

[Anonymous No.18560301]

>>18560190
Kek.

[Anonymous No.18560312]

>>18560165
Welp, time to cancel that CEI limit buy for tomorrow morning.

[Anonymous No.18560372]

>>18560165
“Brand new” breakthroughs in ‘unconventional’ technologies that will soon be unveiled to the world.
If you know, you know.

[Anonymous No.18560395]

aaaaaaaaaaaaaaa

[Anonymous No.18560425]

You guys see that solar panel company that made an electric SUV?

[Anonymous No.18560452]

ohhhhh mommmmmmy make it stop not my oilerinos

[Anonymous No.18560468]

>>18560395
Based Russians. Now I can drive my v10 for almost free kek

[Anonymous No.18560474]

>>18560165
oil derrick go grrrrrrrrrrrr

[Anonymous No.18560477]

Nani

[Anonymous No.18560491]

>>18560165
how do i profit off this?

[Anonymous No.18560567]

Storage is full.

[Anonymous No.18560593]

>>18560210
They can, but they don't want to

[Anonymous No.18560622]

>>18560372
prove it

[Anonymous No.18560623]

MOMMY I WANT OFF THIS RIDE NOW

[Anonymous No.18560626]

>>18560165
Its shitting the bed. With 10 million barrels of oversupply even after a 10 million cut in production.

[Anonymous No.18560637]

biz bought at 30$, that’s what happened.

[Anonymous No.18560650]

>>18560622
Those who know do not speak; those who speak do not know.

[Anonymous No.18560655]

Omg is it recovering soon? Or it will go lower?
It's just a bounce down?
Pls tell me

[Anonymous No.18560662]

>>18560491
buy and hodl. It's never been this low before. It might keep going down for a little, but the point is it really has no way to go but up in the long term.

[Anonymous No.18560676]

>>18560655
It's crashing with no survivors

[Anonymous No.18560684]

literally party like it's 1999

[Anonymous No.18560693]

>>18560165
It’s falling

[Anonymous No.18560698]

>>18560676
>imagine being shorting this

[Anonymous No.18560708]

>>18560662
you're fucking dumb

[Anonymous No.18560736]

>>18560165
It's kill time.
For these wannabe traders going long WTI thinking they smart.

[Anonymous No.18560742]

Put things into context anons.

[Anonymous No.18560749]

>>18560662
THIS
Oil ain't like your grandmas ancient tea party collection, the world needs it and only a matter of time before world can't get enough of oil.

good time to invest if you're looking long term (e.g. 2-3 yrs)

[Anonymous No.18560781]

Where’s all the retards who were bragging about going all in oil

[Anonymous No.18560785]

>>18560742

Low in 1930: $10 per Barrel
Low in 1970: $11 per Barrel
Low in 1998: $12 per Barrel

The time is almost here anons, it's time to go ALL in on oil.

[Anonymous No.18560801]

>>18560742
>6
see all the cycles.. even something so essential (e.g. oil) goes through this cycle.

crypto been in bear terroritory for awhile.. less than 1 year before crypto hits ATH.

just cycles bro

[Anonymous No.18560819]

>>18560736
Going long with oil is the smart move, we just aren't nowhere near being done with this Corona Virus/ economic crash.

[Anonymous No.18560821]

>>18560781

Downside risks are small compared to upside potential right now. A 150 year chart shows that these lows have only been hit a handful of times.

[Anonymous No.18560827]

Can’t wait to buy the absolute bottom

[Anonymous No.18560834]

>>18560785
What are the smart moves anon? Which companies are safe yet profitable?

[Anonymous No.18560856]

>>18560662
Its going negative

[Anonymous No.18560857]

>>18560827
When do you think that will be?

[Anonymous No.18560876]

>>18560857
About -$35 (negative)

[Anonymous No.18560886]

What do anons suggest best oil stocks to buy if I decide on it?

[Anonymous No.18560889]

Crazy shit.

>>18560834

I was hoping /biz/ could recommend an ETF that tracks oil closely. USO is a bit of a meme.

[Anonymous No.18560897]

What are the best oil stocks to buy that accurately track the crude price

[Anonymous No.18560909]

>>18560781
Setting up trades to double down on longs in pre-market tomorrow

[Anonymous No.18560917]

>>18560165
is it not obvious? nobody is driving to work. nobody is flying anywhere. they're running out of places to store it and obviously the prices are gonna come way down because there's an abundant supply and not much demand. it's not rocket science. lol at the people that invested in oil stocks the past 2 weeks. might wanna wait for the real bottom.

[Anonymous No.18560925]

Nobody will be using it for a long long time. Also, communists and ragheads basically going all in on destroying US oil.

[Anonymous No.18560933]

>>18560312
Pussy

[Anonymous No.18560943]

NEGATIVE
E
G
A
T
I
V
E

[Anonymous No.18560960]

>>18560917
Imagine the unemployment rate after the global oil market capitulates. Only idiots are buying stocks atm

[Anonymous No.18560969]

>>18560165
OPEC fucked everyone, hard. They needed to cut way fucking harder, and refused, so everyone is noping the fuck out, because they're pumping too much into a dead market.
There's gonna be some serious shit going down in Saud and other OPEC countries over this. Regime change, mysterious plane and helicopter crashes, that kind of thing. The Saud shithead royal family want their dividend checks every month, and this is threatening them in a serious way.
I hope Trump slaps some major fucking tariffs on them this week, to prop up our companies and market. Fuck OPEC. Time to end that clusterfuck once and for all. They caused this oil shitstorm, let them choke to death on their crude in their third world shitholes.

[Anonymous No.18560984]

>>18560960
I'm waiting for this shit to completely crash in a few months

[Anonymous No.18560996]

>>18560662
This is way past "buy the dip", spastic. This is "I hope these companies exist when this starts recovering' territory.

[Anonymous No.18560998]

>>18560165
Running out of storage.

[Anonymous No.18561022]

How does one capitalize off this? Like should I buy Exxon stock or can I buy rights to crude oil? Just looking for help here fellas

[Anonymous No.18561043]

>>18561022
If you're asking this kind of question, you'll lose every penny.

[Anonymous No.18561050]

>>18560886
!!!

[Anonymous No.18561051]

Chevron
ExxonMobil
Shell RDS.B (fuck paying taxes)
Conoco Phillips

Not all will survive, but some will rebound and flourish with less competition.

Diversify your load and join us in 4 years.

[Anonymous No.18561073]

>>18560742
why are you trading using 6 year old charts? fuckin jackoff

[Anonymous No.18561090]

>>18560889
It's only a meme because you have so many people interested in it, so naturally there will be a lot of emotion. There's a lot of fud right now related to contango. Don't listen to it. It's the equivalent of a triple witching. There's been some deep institutional buying lately into it, and Donnie boy has been very quiet. I think we'll see a nice bailout akin to CCL. Sell the rip. We could touch $8 within a month.

[Anonymous No.18561092]

>>18560969
OPEC countries should be bombed. Screwed the world when oil prices were high and are screwing the world when oil prices are low. Fucking sand niggers

[Anonymous No.18561099]

>>18560662
retard we are still in wave one of covid

[Anonymous No.18561121]

>>18560889
UCO is better -- look at its current price from Coronavirus onwards vs where it's been since inception. Doesn't make logical sense when looking at it from a long-term perspective. Will rebound upwards once Trump says "you can leave your homes now"

[Anonymous No.18561137]

>>18560165
o no no -Mumu
o no no

-Mumu


xD

[Anonymous No.18561138]

>>18561043
Fuck off nigger. The risk is worth it. These chances rarely come for us peasants.

[Anonymous No.18561141]

>>18560165
Hooray! I want gas to go under a dollar! And I want these companies to suffer as I have.

[Anonymous No.18561159]

>>18560312
cum eating instruction?

[Anonymous No.18561160]

MUMU!!

MUMU are you okey
are you okey mumu?!

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

HAHAAaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

[Anonymous No.18561200]

>>18560969

The low oil price is a geopolitical calculation by the Russians and the Saudis to fuck over the North American oil industry.

If you haven't noticed, America was the #1 producer of oil for the last few years. This oil rout is intended for the Russians and Saudis to reclaim market share.

[Anonymous No.18561225]

>>18561073

Yeah, because the average WTI chart on a trading platform goes back to the 1860s.

Poofter.

[Anonymous No.18561244]

>>18561200
Ah, so I should OGZPY, then.

[Anonymous No.18561259]

Is the Canadian WCS going negative tomorrow?

[Anonymous No.18561308]

>>18561090
I expect Donnie will make a twitter statement on prices shortly which should have some effect as usual.

I don't know about $8 but $10-12 definitely looks likely.

I'm saying this while 10% of my portfolio is in an oil etf which is both in spot and futures too but I don't really need the money so I'll probably just look at it in 5-10 years time and sell.

[Anonymous No.18561320]

>>18560933
Feel free to take my place, Billy Badass.

[Anonymous No.18561325]

>>18561225
learn to read English you wanker

[Anonymous No.18561355]

>>18561200
bruh this is more then taking market share. str of oil price = str of the us dollar

[Anonymous No.18561367]

bunch of fags, WHY aren't u shorting the fucking crude oil? Seriously

[Anonymous No.18561374]

>>18561355
I was just about to ask this. What does this mean for the fate of the petrodollar. Especially with us moneyprinting like mad. When the bottom falls out of oil does it take the u.s. dollar with it?

[Anonymous No.18561375]

>>18561355
I think instead of "taking the market share", the anon meant "absolutely ass raping the land of the free with no lube".

Some shifty shit going on behind the scenes.

[Anonymous No.18561394]

>>18560165
Well, I step out onto my balcony to have a smoke and the usually queue of aircraft lining up to the major airport in my city just isn't there. So nobody is flying.
Then I lookd down, and while there are cars, it isn't heavy. Even rush hour looks pretty dead.
So the only people who are still using anywhere near the usual volume are transport ships.
Guess what the cheapest, easiest and most worthless fuel to make is?
What is the value of a resource that nobody is using?

[Anonymous No.18561417]

>>18561138
Go ahead and throw your money away. It would be more effective and entertaining to get physical cash and set it on fire, and then flush it, but same outcome.

[Anonymous No.18561418]

https://www.youtube.com/watch?v=atuFSv2bLa8

[Anonymous No.18561419]

>>18561374
idk im a retard trying to figure stuff out too. I figure they see an opportunity to fuck with the US cause its weak.
>>18561375
>Some shifty shit going on behind the scenes.
yep, trumps reaction is going to be interesting

[Anonymous No.18561426]

>>18561355

>str of oil price = str of the us dollar

Think about what you're saying in the context of the 1970s.

[Anonymous No.18561456]

>>18561417
At least I have a chance to make a nice profit. Burning my money does nothing for me so get out of here with that nihilistic bullshit you fucking cunt.

[Anonymous No.18561455]

>>18561200
>The low oil price is a geopolitical calculation by the Russians and the Saudis to fuck over the North American oil industry.
You really think I didn't fucking know that? Go lecture someone else, fuckwit.
>If you haven't noticed, America was the #1 producer of oil for the last few years.
LOL. Not even fucking close, you dumb fucking mutt.
>This oil rout is intended for the Russians and Saudis to reclaim market share.
Again, go lecture someone else. That was implied in my post. They started a price war, and fucked everyone. But you keep thinking you had a point - other than the one on the top of your head.

[Anonymous No.18561470]

>>18561022
Why not just buy wti futures?

[Anonymous No.18561475]

>>18561456
"B-but, I'm relevant!"
Shaddap, faggot. Your small pile of neetbux will disappear faster than coke in a nightclub.

[Anonymous No.18561480]

>>18561426
im not following you. The economy was good then right? covid wasnt a thing and manufacturing was still going on in the states

[Anonymous No.18561494]

>>18561455

>LOL. Not even fucking close, you dumb fucking mutt.

What did this anon mean by this?

[Anonymous No.18561505]

>>18561244
and GZPFY
and OJSCY
and LUKOY

Even under sanctions their net incomes are dwarfing virgin western oil companies'. Those also pay around 10% dividends, after foreign tax withheld.

[Anonymous No.18561507]

>>18561475
Hey bro I’m thinking 50/50 FRO and XOM when oil hits the bottom in a few days/weeks. What do you think? Only reason I have interest in FRO is because according to fidelity it’s super bullish right now.

[Anonymous No.18561538]

>>18561480

Oil prices exploded and the dollar tanked.

The value of the USD is tied DIRECTLY to it's status of world superpower. It isn't industry. It isn't oil. It isn't anything tangible. It's people's perception that going against America would put them in a worse position than going with America.

As soon as the US dollar isn't accepted in exchange for goods, the USA is done.

[Anonymous No.18561547]

>>18561022
You buy SCO at open tomorrow.

[Anonymous No.18561552]

>>18561355
I want to know how the fuck gold is back below $1700 and falling. Massive QE at the same time wti crude is trending toward single digits.

Are all the conspiracies about OPEC getting paid off in gold actually true?

[Anonymous No.18561554]

>>18561538
ok yeah i agree. This is a direct threat to the US global power

[Anonymous No.18561571]

>>18561538
Nukes fly first. The USD is backed by the ability to destroy the planet. Not a barrel of shit dug out of the ground for a century and a half.

[Anonymous No.18561582]

>>18561552
shiny rocks have been a market since money. kikes have had plenty of time to rig those markets.Again im a retard and trying to understand like everyone else

[Anonymous No.18561602]

>>18561571
>Nukes fly first.
so then then whoever is left is in charge of rubble? idk if thats the play

[Anonymous No.18561607]

>>18561571

If a country's fortunes were directly linked to it's ability to destroy the world, the USSR would have never collapsed.

[Anonymous No.18561650]

Yo oil bros should I sell in pre-market tomorrow

I am holding RDS.B at a loss of 17 dollars, OKE at a overall gain of 240, DHT, FRO, and MPC at a gain of 24.

[Anonymous No.18561672]

>>18561602

You know, the American exceptionalism mindset might actually mean that America's nukes WOULD fly if her power was ever seriously threatened. Like if the entire Pacific Fleet was destroyed.The evangelicals would justify it as some kind of rapture type shit.

America is the only country to ever use nukes in a state of war.

[Anonymous No.18561674]

>>18561099
>still believing that bullshit
Never post again

[Anonymous No.18561696]

>>18561552

This is what I also want to know. Why the hell is gold going down? It's as if I'm being punished for buying the right thing in a time of crisis.

[Anonymous No.18561707]

>>18561355
https://www.marketwatch.com/investing/index/dxy
Then why isnt the dollar tanking?

[Anonymous No.18561755]

>>18561674
it doesnt matter if its true or not the globe is still shutdown faggot.
>>18561672
>The evangelicals would justify it as some kind of rapture type shit.
interesting
>>18561707
>Then why isnt the dollar tanking?
cause the us dollar is still the wolrds reserve currency? if it stops green backs will flood back to the states.

[Anonymous No.18561791]

>>18561696
nothing ever goes up in one direction.

[Anonymous No.18561861]

>>18561308
100% agree.

[Anonymous No.18561936]

>>18560195
Cargo and cruise ships don't sail even without a pandemic because they don't use sails.

[Anonymous No.18561946]

>>18560425
No ?

[Anonymous No.18561962]

Spot price in west Texas is $2 right now lmao

[Anonymous No.18562109]

Where can I leverage buy USOiL ??

[Anonymous No.18562120]

>>18560165
Normies bought the dip.

[Anonymous No.18562143]

>>18562109
https://simplefx.com/n/_15500

[Anonymous No.18562158]

How fucked are oil stocks at the open boys?

[Anonymous No.18562172]

>>18560165
No demand because everything is shutdown. Permanently lower demand incooming

[Anonymous No.18562336]

should I buy USO?

[Anonymous No.18562363]

>>18560684
march 1999 last time WTI oil hit 14.47

[Anonymous No.18562383]

>>18560889
>>18560889
do not buy an oil etf. just invest in a solid company. XOM and CVX are going no where and will be monsters when this is over

[Anonymous No.18562413]

>>18560210
Apparently its a pain in the ass to shut the pipelines down and actually more cost effective to just burn the excess oil

[Anonymous No.18562442]

>>18560749
*blocks your path*

nothing personnel, oil kid

[Anonymous No.18562452]

this isnt bad for the coomersumer

[Anonymous No.18562478]

>>18562143
Not leverage

[Anonymous No.18562510]

Imagine not being invested in the top oil tanker storage companies right now

[Anonymous No.18562520]

>>18560165
it is going to negative where they will pay ppl to take oil off them. oil cucks are fucked

[Anonymous No.18562525]

>>18560943

>negative 19 cents/barrel

How does this even work? Wtf.

[Anonymous No.18562554]

>>18562525
You get paid to take the oil. Why is everyone on this board such a fucking idiot?

[Anonymous No.18562576]

It seems to have a strong resistance right now, it seems it can bounce back

[Anonymous No.18562597]

>>18561538

God, I can't wait.

[Anonymous No.18562601]

>>18560165
nice hopefully 10 bucks oil by june

[Anonymous No.18562605]

>>18562554
so you're saying if i have zero usable funds in my account and I purchase a stock witha negative price, I get free money?

[Anonymous No.18562664]

>>18562605
First of all -- it's not a fucking stock. It's a commodity. This means that if you buy their stupid fucking oil, then you have to take delivery of that stupid fucking oil and find a place to put it when it arrives at your shitty little house, unless you are trading options on the commodity. Again, repeat after me, it's not a stock, it's a commodity.

https://www.morningbrew.com/daily/stories/2020/03/27/one-type-oil-sells-negative-prices

But yes, you get "free money" if the price doesn't fall any further and if you can find some moron who wants to take the risk of buying the stupid fucking oil from an unsophisticated mongoloid like you

[Anonymous No.18562696]

>>18560372
I am inclined to believe this, there are many studies on energy sources now...

[Anonymous No.18562706]

>>18562664
This is why I only deal in corn. Much more liquid asset, everybody wants corn.

[Anonymous No.18562720]

>>18562336
Yes

[Anonymous No.18562752]

>>18562605

no, they would pay you to come take the literal physical oil and you would have to re-sell it yourself. i suppose if you own a storage business you could do that, but 99.9% of investors are not fucking w/ physical oil

[Anonymous No.18562757]

>>18561419
Hmmm all his talk about us battling an invisible enemy might be coming into focus now. Are we in an undeclared new cold war with russia and the saudis?

[Anonymous No.18562799]

>>18560662

What is the best way to profit off of this in boomer stocks? I just opened a TD Ameritrade account and don't have options or futures set up.

[Anonymous No.18562840]

>>18560749

What's the best way to invest? Do I just buy oil companies? They don't seem to be reflecting the cratering oil price. Brand new to boomer stocks here.

[Anonymous No.18562897]

>>18562799
>>18562840
wait for XOM and RDS.B to drop and then buy and hold them for the next 2 years. thats how boomerstocks work

[Anonymous No.18562944]

Some here are acting as if this is something the oil industry can never recover from. Simply invest in too big to fail companies (worst case scenario they get bailed out) and hold for awhile.

[Anonymous No.18562953]

Stop being a pussy and wait for 9.

[Anonymous No.18563025]

>>18560165
Canadian oil is 0.03$ right now and it hit negative -0.78$ today abhhhhhhhhh

[Anonymous No.18563036]

>>18563025
What app is that anon?

[Anonymous No.18563073]

>>18562944
>worst case scenario they get bailed out
more like best case
nothing is too big to fail

[Anonymous No.18563097]

>>18560662
>buy and hodl. It's never been this low before. It might keep going down for a little, but the point is it really has no way to go but up in the long term.

Shell and Exxon. Simple really

[Anonymous No.18563121]

>>18563073
you don't think Trump would want to bail out xom? that's like letting the essentials version of apple go bankrupt.

[Anonymous No.18563132]

>>18563121
How low could XOM go?

[Anonymous No.18563165]

>>18563121
>>18563132
XOM went up 10% on Friday, it can give back and keep going up. Oil is not an optional need, its what powers agri, fishing, mining and logistics. Xom and Shell are well run, well financed and positioned to buy up shale for nothing.

[Anonymous No.18563171]

>>18561696
>Why the hell is gold going down?
Gold is higher than pre-corona crash (something stocks and BTC can't say). It's hitting ATH in every other currency. Do not get short term spooked in a long term game.

[Anonymous No.18563185]

>>18563132
About 36 btw maybe 35 but you will not catch a bottom on this or if you do its blind luck, its a buy under 40 and shell is a buy under 35, in fact they are both still a buy at higher prices.

[Anonymous No.18563196]

>>18563171
Gold is actually down a touch. It will go over 2000 but as a consequence of money supply, nothing else and that same factor will also raise the nominal price of stawks in any currency. However the AUD may collapse.

[Anonymous No.18563211]

>>18563025
canadian oil is shit, no one cares about that

[Anonymous No.18563213]

>>18560165
Oh nononono.
We got too cocky oilbros.

[Anonymous No.18563231]

>>18563211
O its not utter shit, nice for shell or exxon to pick up for nothing and stick in their back pocket, same for shale. Russia is however truly fucked, their oil is very low grade and they can't agree internally on who should take the hit on production cuts or share out the production cut burden. As its Russia, no one will buy it because as soon as its worth a fuck again putin will just steal it

[Anonymous No.18563242]

>>18563213
Buying XOM/Shell now is a 5-10 year play not fucking daytrading which due to fees and tax is a fucking mugs game

[Anonymous No.18563269]

petroleum jelly, ky, and jelly dongs on sale soon
so happy

[Anonymous No.18563342]

>>18560165
airlines

[Anonymous No.18563356]

>>18563025
so i get paid to take oil off their hands? based

[Anonymous No.18563372]

>>18563242
Daytrading is a bitch

[Anonymous No.18563406]

>>18563372
Its a scam played on neets like forex and options,. You're liable for tax at each trade and you are racking fees to. Unless you are a registered broker then its just fucking dumb or you need to be living in the artic and have a great money laundering setup because as soon as you make any real money you will have a taxman crawling up your ass

[Anonymous No.18563435]

Are we gonna see DHT and FRO go up?

Am I fucked for holding 20 RDS.B at an average of 35.

[Anonymous No.18563533]

>>18560749
>>18562442
the majority of oil is simply used for transportation in cars
oil used to be an be all end all commodity, but now there's so many alternatives thanks to electrfication that 5 miles on a scooter or 40 miles in an electric car provides enough of a subtraction from the market and its existence will create even more exponential effects that this is going to be the start of a great roller coaster ride as oil drops below $20 forever
the only use for it anymore is industrial and things that can't yet be electrified due to a charging network, however that market is fucking tiny

[Anonymous No.18563559]

>>18562442
cars aren't the biggest consumers of oil you retarded zoomer

[Anonymous No.18563593]

My algo literally says... 6~ USD bottom

[Anonymous No.18563706]

>>18561374
oil per dollar goes up
shipping costs/material procurement goes down
prices goes down due to material/shipping costs dropping, while the increase in money supply is either ignored leading to both more sales and cheaper prices, or ends up balanced against more consumption bringing us back to the same prices as before, however in both cases there are many more consumers bringing economic activity up and the dollar multiplier up

[Anonymous No.18563737]

>>18562525
barrels per dollar, not dollars per barrel

[Anonymous No.18563756]

>>18563533
>however that market is fucking tiny
all the heavy industrial vehicles like bulldozers and cargo planes run on liquid fuel......

[Anonymous No.18563773]

>>18563756
ok so theres like billions of barrels of oil right? like 70% of that is used daily for cars alone, which theorhetically means it makes up 70% of why oil is priced at $20, so, theorhetically, taking away the car market leaves us at $6 a barrel, assuming the market isn't flooded due to all thep roducers of oil trying to get rid of their supply

[Anonymous No.18563810]

>>18563756
There’s a lot more shit that rubs on diesel. Boats,tankers,construction equipment,some trucks and cars, generators and a bunch of other shit

[Anonymous No.18563819]

Is natural gas going to get wrecked by this oil crash 2.0?

[Anonymous No.18563825]

Can you just make an account and take negatively priced oil for free/be paid for it? What are the repercussions of it going negative further? tax implications?

[Anonymous No.18563828]

>>18563559
come again?

[Anonymous No.18563831]

>>18563773
70%? what the fuck are you talking about. Don't ever post again you retard holy shit I'm going to have an anyeurism over the utter ignorance in this shithole

[Anonymous No.18563848]

>>18563810
diesel use is relatively flat or only growly slowly, compared to transportation which can exponenially grow and pump up the cost of crude oil, affecting diesel prices

[Anonymous No.18563853]

>>18563828
God damnit you people are so fucking stupid. Do you know what "transport" means? Ocean tankers, freignt trains and airplanes. I'm going to step away from this shithole of a website so I don't go crazy from the levels of dunning-kruger stupidity that exists here

[Anonymous No.18563859]

>>18560165
Oil is gonna shrink as an industry. There will be major consolidations. The smaller oil companies are dead for sure.

[Anonymous No.18563862]

>>18561538
Lol fucking retards. The USD is the only real currency among the meme currencies. There are literally more dollars outside of America than inside. You would be a fucking retard to bet against America.

[Anonymous No.18563882]

>>18562336
Yes but wait until wti goes negative. This is literally the opportunity of a lifetime.

[Anonymous No.18563884]

>>18563853
Gasoline is the most consumed petroleum product in the United States. In 2018, consumption of finished motor gasoline averaged about 9.33 million b/d (392 million gallons per day), which was equal to about 45% of total U.S. petroleum consumption.

Distillate fuel oil is the second most-consumed petroleum product in the United States. Distillate fuel oil includes diesel fuel and heating oil. Diesel fuel is used in the diesel engines of heavy construction equipment, trucks, buses, tractors, boats, trains, some automobiles, and electricity generators. Heating oil, also called fuel oil, is used in boilers and furnaces for heating homes and buildings, for industrial heating, and for producing electricity in power plants. Total distillate fuel oil consumption in 2018 averaged about 4.15 million b/d, which was equal to 20% of total U.S. petroleum consumption.

https://www.eia.gov/energyexplained/oil-and-petroleum-products/use-of-oil.php

[Anonymous No.18563886]

>>18563848
You know gas is a byproduct of diesel right?

[Anonymous No.18563901]

>>18563886
thats what I mean, the price of gasoline affects diesel, in my state we have some weird problem where the diesel is more expensive than the gas due to higher demand , mostly because everyone has EVs

in the future Diesel will dictate the price of crude, but that market is at best 20% the total use of crude oil

[Anonymous No.18563938]

>>18563901
You in burger land? Eu cars are mostly diesel some run on propane. Idk why our infrastructure is set up for gas

[Anonymous No.18563944]

>>18563938
oh right it's 1am

[Anonymous No.18563971]

>>18563773
first off electrified vehicles have not penetrated to be considered. there are 1 billion light duty vehicles on the planet. there are roughly 5 million EV types. thats 0.5 percent. it's taken 100 years to produce 1 billion light duty vehicles. id wager it's going to take that long to replace them. that's not even desirable. more public transport would be better.

https://www.eia.gov/energyexplained/oil-and-petroleum-products/use-of-oil.php

70 percent is wrong. that's for total of transport usage.

there is no fucking way you can convince a person who actually uses his truck to give up liquid fuel. rural areas will simply not convert due to range limitations.

you're also telling people who have perfectly operable vehicles to buy something new. this is both a monetary cost and an environmental cost. the car has to be scrapped and recycled. the EV must be manufactured from scratch. all i see is increasing waste.

a low oil price will simply encourage those with existing machinery to use them for longer.

[Anonymous No.18563977]

>>18560165
Fucking gatesgretasorosfauci are behind this destroying the economy
Same people from global warming are behind this hoax flu
It’s all about reducing co2 it’s working for these morons

[Anonymous No.18564002]

>>18563971
to clarify you said CARS use 70 percent. that's flat out wrong.

[Anonymous No.18564003]

>>18563971
>person uses money saved on gas to buy an electric car
>electric car use drops gas prices even further
>this starts an exponential self reinforcing effect that tanks oil prices
>this doesn't even include speculators effects on prices as they have to finance and manage inventory

[Anonymous No.18564044]

>>18560698
The fucking Saudi’s and the Russians probably are all shorting our market while they pump it to oblivion

[Anonymous No.18564081]

>>18563971
It hasn’t even taken 100 years because the majority of cars built before cash for clunkers are in a junkyard or recycled already.

[Anonymous No.18564083]

middle east and russia can make it as cheap as $5 a barrel and still be fine.

this is all planned to bomb the US industry

[Anonymous No.18564086]

>>18563435
fro is up like 18% over the past week

[Anonymous No.18564101]

>>18564003
>you're also telling people who have perfectly operable vehicles to buy something new. this is both a monetary cost and an environmental cost. the car has to be scrapped and recycled. the EV must be manufactured from scratch. all i see is increasing waste.
>a low oil price will simply encourage those with existing machinery to use them for longer.

i bought a car 2 years ago for 3k. it's cost me about 200 per month in gas because i use it for work. it's cost me 200 in parts to repair.

a brand new model 3 would have cost me 21k just on payments alone over 2 years. tesla calculator says this would save me only 900 per year in gas. but all i have to do is make more money from my business. an extra grand per year is nothing.

you are vastly overestimating the ROI on EVs.

[Anonymous No.18564104]

>>18560742
adjusted for inflation?

[Anonymous No.18564109]

>>18560165
there isn't a single oil tank in the world that isn't full

[Anonymous No.18564126]

>>18564101
oh man how am i going to live with putting all my hope on a
>-$100k-
>-$70k-
>-$40k-
>used nissan leaf $4k

[Anonymous No.18564240]

>>18564126
>nissan leaf
can the nissan leaf haul up to 1500 lbs with needing a recharge in 1 hour? how long would that recharge take anyways. i do multiple trips per day like that.

because that's my use case.

you are grasping at straws because you initially stated the case for NEW VEHICLES would displace older undesirable vehicles.

you should read the below again. because it's actually economics will actually play out.
>you're also telling people who have perfectly operable vehicles to buy something new. this is both a monetary cost and an environmental cost. the car has to be scrapped and recycled. the EV must be manufactured from scratch. all i see is increasing waste.
>a low oil price will simply encourage those with existing machinery to use them for longer.

EVs have a use case but they are not a replacement for ICE vehicles.

[Anonymous No.18564248]

>>18564240
you're not the vast majority of the population

[Anonymous No.18564265]

in the US a lot of boomers see the model S as a sort of retirement trophy, they also have garages and mostly do city driving making them perfect candidates for cars

there's also a bunch of consumers who aren't broke ass college students with only $5k for a car

[Anonymous No.18564268]

New to oil. Why buy individual stocks like XOM and RDS.B when you can buy a vanguard energy ETF?

If buying oil stocks, why not OXY? Icahn has been getting involved and he essentially tries to pump companies.

[Anonymous No.18564302]

>>18564268
you would have to be insane to buy any US based Oil company shares right now

there is zero proof to suggest its going to go back up. A lot of companies gonna go bust in US market

[Anonymous No.18564308]

>>18564268
Lol completely agree; I posted earlier about OXY being a great buy. I bought in at 11.40 and if it drops tomorrow I'm loading up. With regard to why not just getting an ETF, consider that it might be too diversified and that it might lag the hyper-growth that OXY or just a plain simple mid cap oil company could give you. The way I see it, the mid cap oil companies are great because they are small enough so that they can get bought out by Exxon (through force from the government) if anything happens, and they are large enough to produce steadily on their own and still have room for growth to outpace the general oil producing market.

[Anonymous No.18564353]

>>18564308
anymore mid caps you have been eyeing?

good point on the downside of investing in an ETF btw

[Anonymous No.18564362]

>>18564248
>you're not the vast majority of the population

you're right. i drive roughly 12 000 km per year. so i drive half as much as other people.

in which case they would encounter more issues than me.

>>18564265
you're getting pretty snippy here buddy. what if i told you i made well over 100k last year. and i would have made 150k this year without coronacession.

imagine that. a person who's good at making money runs a cost benefit analysis to make sure he gets the most ROI.

you're implying i'm broke and young. fucking lol.

[Anonymous No.18564369]

>>18564362
well, this is biz, so yes you damn dirty bitcoin liar

[Anonymous No.18564434]

>>18564268
also, what's wrong with USO?

>>18564308
Might add it to an industry portfolio. Wouldn't want to be on the opposite side of Icahn owning 10% of it lol

[Anonymous No.18564436]

>>18560195
>oil isn‘t real if we store leave it underground in already tapped wells
>it‘s only real if you pump it up the well into a tank
What a scam this has always been...

[Anonymous No.18564438]

>>18564362
Help me make money anon. Give me some good resources so I can learn for myself.

[Anonymous No.18564447]

>>18564369

[Anonymous No.18564466]

Do your VPN do give you a restricted connection?
Worry not
With @tachyon protocol decentralized structure, DHT and UDP, the TCP/IP protocol improve connection rate by over 90% in a Complex Environment.

[Anonymous No.18564489]

>>18564438
well i'm a small business owner. there's no course that can teach you all the necessary skills.

1. have money
2. look for businesses that have upside potential
3. run the numbers
4. if the numbers are good, have the balls to jump in

you can get started for under 50k but realistically have a few hundred grand ready to go.

it's a long journey. no get rich quick. do you want to make money? yes? then find something that makes money. if you buy something for 10cents but you sell it for 150 cents you're good. doesn't really matter what you're selling.

[Anonymous No.18564511]

It's great just wait until after this when prices go though the roof. Gas will be 2$ a liter.

[Anonymous No.18564534]

>>18563211
WE DO

[Anonymous No.18564540]

>>18560165
BUY THE DIP! BUY THE DIP!

[Anonymous No.18564545]

AHHHHHHHHH

[Anonymous No.18564670]

>>18564240
>>18564248
This is why GM, Dodge and Ford are neglecting their passenger cars to pump out trucks. The smaller models will be competing with the EV but an EV truck that is worth a shit is a looooong ways out. Also gives them time to develop their EV while they make a killing on the markup on their trucks.

>>18564436
If you stop pumping it the well might dry up. it's like when you're sucking through a straw and you stop and the drink goes back down the tube, but way more complex.

>>18564466
Tachyon protocol? What type of star trek pajeet is this?
>>18564545
That price though. tell /pol/ it's their sign to buy

[Anonymous No.18564741]

>>18563862
More USD cash outside US just means how much of a house of cards it is. It's mostly cash reserves, it's only a risk factor - not a supporting factor. They have it for hedging against exchange rate risk.

[Anonymous No.18564744]

>>18560165
it's going from black gold to black diarrhea

[Anonymous No.18564745]

>>18564302
Best time is always when there is blood in the streets.

[Anonymous No.18564786]

>>18564545
i'm thinking buy

[Anonymous No.18564792]

where is the oil chad general?

[Anonymous No.18564829]

>>18561121
UCO is leveraged you fucking moron. It's going through a reverse split this week to avoid being delisted to penny stock status. if you're holding this you're fucking retarded and should kill yourself.

[Anonymous No.18564847]

>>18564829
It's obvious that you don't know what you're talking about. Move along.

[Anonymous No.18564866]

>>18560165
buy and sell next January

[Anonymous No.18564868]

Esto es el fin para tu senor petrol.

[Anonymous No.18564872]

>>18564489
what industry/ies?

[Anonymous No.18564899]

who here /CRUD/? can anyone tell me if this ETC that allegedly tracks the WTI price is legit or will it decay
https://www.wisdomtree.eu/en-gb/products/ucits-etfs-unleveraged-etps/commodities/wisdomtree-wti-crude-oil

[Anonymous No.18564934]

holding 3 calls on scorpio tanks, i wish i bought more

[Anonymous No.18564948]

>>18560165
Global economy is kill thanks to drumpf deflation due to overvalued usd and coronachan stoping the world economy.

So demand is dead.

[Anonymous No.18565029]

>>18560491
Short every shale company

[Anonymous No.18565057]

>>18560190
COPE LEAFER A HUMMER HAS NEVER BEEN CHEAPER TO USE

[Anonymous No.18565101]

>>18562413
that'll be great for both our economy and our planet.

[Anonymous No.18565106]

>>18560468
Viper?

[Anonymous No.18565133]

>>18563593
For oil?

[Anonymous No.18565138]

>>18560190
Kek'd

[Anonymous No.18565143]

The Saudis and Russians are trying to make shale oil unprofitable. They will keep the price low until the US shale industry is dead.

[Anonymous No.18565151]

>>18560491
Buy the dip :DDDDD

[Anonymous No.18565157]

>>18564829

do you know a non-leveraged etf tracking oil?

I have VDE but its the energy companies

[Anonymous No.18565516]

>>18560650

Wow, metal nipples. Yeah aliens confirmed I think.

[Anonymous No.18565530]

don't fuck with the arabs you fucking mutts

[Anonymous No.18565756]

>I'm in it for the long term

[Anonymous No.18565784]

Rofl

[Anonymous No.18565789]

>>18565530

[Anonymous No.18565928]

>>18560969
Saudi is a jewish front group, lapdog, always was, the US wont do shit to a jewish Proxy state. They gear up to fight their jewish masters enemy, not their allies...Who do you think funded OPEC lol

[Anonymous No.18566019]

Seems like there's enough panic for me to buy.
I'm from the UK, oil stock prices have only fallen by approx. 40-50% (not enough panic).

What's my options to throw 10k on a hunch that this slowly starts recovering from tomorrow?

[Anonymous No.18566056]

20 usd is the new normal.

OPEC is dead.

If you buy now, youre an idiot, buy inverse leveraged ETNs and make bucks, its gonna hit 10usd.

[Anonymous No.18566065]

Oil is just a meme.

[Anonymous No.18566139]

Is it possible for USO to reverse split?

[Anonymous No.18566170]

>>18560165
Artificial economic baisse do to world wide governement failure during flu season

[Anonymous No.18566180]

>>18566056
>If you buy now, youre an idiot, buy inverse leveraged ETNs

Aren't those only good for relatively quick trades? Anything I can hold for a few days?

[Anonymous No.18566186]

>>18560165
imagine your kitchen sink costs a billion dollars to turn off and you're constantly filling up buckets that get picked up at your house by someone buying the water. but you only have a limited amount of space and it takes time to get new buckets. also if you spill water on the ground the government will send people to rape you to death. you're almost on your last bucket and nobody is showing up to buy water

[Anonymous No.18566410]

[Anonymous No.18566482]

Can someone explain to me why I shouldn't be buying RDS/A

I currently have
MRO
RDS,A
XOM

[Anonymous No.18566507]

>Want to buy oil for the long term
>But can't because the fucking brrrr artificially props up Exxon, BP, etc
And don't mention USO or other scam ETFs where you get a double anal due to contango and backwardation.

FUCK YOU, FED.

[Anonymous No.18566543]

no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes no brakes

[Anonymous No.18566587]

>>18562442
How is this a good buy in a world where Oil is cheaper than bottled water? Electric only makes sense in a 100+$ oil world, an even there, it's still shit for long range cruise.

[Anonymous No.18566760]

[Anonymous No.18566804]

>>18566760
i want to short US Army stocks

[Anonymous No.18566888]

>>18566482
Buy RDSB retard

[Anonymous No.18566966]

does anyone know at what time President Trump speaks today about oil?

[Anonymous No.18566979]

>>18566966
I heard something about Trump 0900

[Anonymous No.18566990]

>>18566979
i read 12 on fx calendar, this is very important for oil stonks too

[Anonymous No.18566995]

>>18560165
two weeks ago
>bro oil is safe it's a commodity
>it's gonna moon
>these are cheapies it's the time to buy
today
>oil continues to crater into the center of the earth
>us oil negative for the first time in history
>analyst all gobsmacked
why did I buy this shit? please can it just go back up so I can get out? I've learned my lesson, I won't play with oil anymore.

[Anonymous No.18567001]

> sub 13

[Anonymous No.18567011]

>>18560165
I mean does this pretty much guarantee war?

[Anonymous No.18567019]

>>18560165
It's something called capitalism.

[Anonymous No.18567052]

>>18567011
idk
can anyone elaborate on how we're not going to all kill eachother over cheap oil?

[Anonymous No.18567055]

>>18567011
Expect another drone attack on Saudis soon

[Anonymous No.18567086]

Have we reached the bottom?

[Anonymous No.18567097]

>>18567086
Not yet.

[Anonymous No.18567107]

>>18564083
>middle east and russia can make it as cheap as $5 a barrel and still be fine.
no.
saudi arabia has no other sources of income and ridiculous cost.

[Anonymous No.18567127]

>>18566995
Your lesson should have been to learn patience. Oil is going to recover but it may take two years and it was plainly obvious it had much more to fall now.

[Anonymous No.18567128]

>>18560785
whenever YOU go all in, that's when they will drop it for another fuel

[Anonymous No.18567151]

> sub 12

[Anonymous No.18567153]

>>18564104
this

[Anonymous No.18567193]

>>18560886
it aint hard

xom
rds
bp
crx

pretty much all high to mid cap oil stocks

[Anonymous No.18567208]

>>18560917
yeah I bought alot of oil stocks last week then sold it, I'll wait for the real bottom

[Anonymous No.18567243]

>>18567127
>learn patience
Well I don't have a choice now do I anon? The only option I have is to hang onto this shit until it goes back up.

[Anonymous No.18567244]

>>18567151
Almost there.

[Anonymous No.18567259]

Holy shit.

https://www.youtube.com/watch?v=Tmhp_NEH12Y

[Anonymous No.18567267]

Why exactly are oil stocks dropping?

[Anonymous No.18567268]

>>18567244
https://www.tradingview.com/symbols/USOIL/?exchange=TVC

[Anonymous No.18567279]

>>18560173
It is. The lockdown is bad though.

[Anonymous No.18567281]

>>18566186
very funny way to think about it, anon

[Anonymous No.18567291]

>>18567259
absolutely rekt

[Anonymous No.18567323]

>>18561650
yeah I reckon sell and wait for oil to sort itself out over the next few weeks

[Anonymous No.18567358]

so just a few minutes until single digit oil price.
what now?

[Anonymous No.18567369]

>>18567358
Long

[Anonymous No.18567387]

HOLY SHIT A BATBOI GETS ME 6.8 BARRELS OF OIL

[Anonymous No.18567392]

Ok it's stabilised

[Anonymous No.18567407]

>>18567392
5 4 3 2 1...

[Anonymous No.18567411]

All right, we've found the bottom now.

[Anonymous No.18567415]

>>18567407
Nah it'll stay here. It can't go any lower.

[Anonymous No.18567423]

>>18567019
It's pretty great isn't it. Consumers win.

[Anonymous No.18567442]

There's been a technological breakthrough, we aint restarting this bitch on oil

[Anonymous No.18567468]

Ok it's back up again.

[Anonymous No.18567693]

>>18560165
someone explain brent vs wti and which one to buy

[Anonymous No.18567734]

>>18567693
>buy
This board is retarded

[Anonymous No.18567751]

>>18567693
WTI senpai.

>>18567734
how did chainlink faggots make it here?

[Anonymous No.18567763]

yes, buy the fucking oil now, it seems very smart

[Anonymous No.18567771]

>>18560165
bought Marathon oil stocks last week AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

[Anonymous No.18567781]

>>18560190
epic xD
fuck society

[Anonymous No.18567839]

>>18560650
>>18560655
>>18560662
It's not coming back. It's getting forcefully adjusted to it's industrial/non energy price.
And how come if the usd is backed by oil, the usd is not soi-tier weak right now?

[Anonymous No.18568023]

Will Trump be speaking about oil today?

[Anonymous No.18568058]

>>18568023
lol most likely

[Anonymous No.18568072]

>>18561375
russian hackers gonna hack

[Anonymous No.18568096]

>>18567839
actually usd is losing, it's not soi-tier because the other shitcoins are in pain too

[Anonymous No.18568133]

>>18563971
EVs are growing exponentially, absolute numbers don't matter. Dry electrolyte batteries will give +50% range increases within the next 2-3 years while being cheaper to produce.

Still though there will be a place for liquid fuels. But fossil oil can be replaced. MWH of wind/solar/nuclear can theoretically be converted into 35 kg of methane (including efficiency loss but excluding process cost) and new European wind power is producing at as low as 25-30 usd per MWH. Methane could be further synthesised into liquid fuels. Also there are plenty of other unused biofuel options. Biofuel is estimated to cover all heavy transport in Finland by ~2030-2035 while passager cars are electricity and biogas.

[Anonymous No.18568135]

>>18560996
Which mean when it goes back up it’ll moon because the supply just got kneecapped

[Anonymous No.18568257]

>>18564101
>you are vastly overestimating the ROI on EVs.

Who the fuck is estimating ROI of EVs for poorfags who cannot afford new cars anyway. Your 3k corolla is probably at the end of its life cycle and you are paying more in social shame for driving such a wreck.

[Anonymous No.18568265]

easiest 10x of your life in 2-3 years going to buy 20k USD worth of crude oil world cannot run without oil

[Anonymous No.18568276]

>>18568265
yeah but i have no where to store 2000 barrels of crude so im pretty screwed. can you store them for me and ill give you 10% of my gains.

[Anonymous No.18568353]

>want to buy big oil companies
>but it's propped by the brrrr anyway and it's barely in the red compared to Oil itself

[Anonymous No.18568459]

testing new bottom.

[Anonymous No.18568511]

dank

[Anonymous No.18568581]

>>18560165
>>>18560550
told yall to short cadjpy last night
>hope you all made them gains and are taking it easy today

[Anonymous No.18568989]

>>18560662
babby's first time in the market lmao

[Anonymous No.18569553]

>sub 11

[Anonymous No.18570005]

yes buy the oil now sirs very good value you make the big money