The world could soon run out of space to store oil. That may plunge prices below zero 😀

[r2d2]

Highways are empty. Planes are grounded. Factories are dark. The unprecedented collapse in oil demand has sent crude crashing to 18-year lows.  Supply, on the other hand, remains largely resilient amid a price war between Saudi Arabia and Russia. US producers don't want to be the first to blink by turning off production. 

That could mean a supply glut so epic that the world will soon run out of room to store all the unneeded barrels of oil.  "The market is starting to signal that not only is there no demand for this crude, eventually there could be nowhere for it to go," said Jeff Wyll, senior energy analyst at Neuberger Berman. 

In other words, storage facilities, refineries, terminals, ships and pipelines eventually could reach capacity -- something that hasn't happened since 1998, according to Goldman Sachs.

[tacobell fan]

KOTTABHOTUNNAM 

[r2d2]

I seriously wish the Arabs go bankrupt !!!!

[tacobell fan]

1 minute ago, r2d2 said:

I seriously wish the Arabs go bankrupt !!!!

Todatam endhuko ilanti kampu situation create cheyyadam endhuko

[LadiesTailor]

interesting... ripple effect anukunta... people not going out ante gas stations nunchi exxon lanti big companies daaka bokke... imagine car dealers, repair shops, etc... oil meeda entha mandi bathukutunnaro 

[karna11]

8 minutes ago, tacobell fan said:

Todatam endhuko ilanti kampu situation create cheyyadam endhuko

todatam aapaleruu anukuntaaa, todesindhee chala vundhi especially arab countries storage ante kastam yeee

[karna11]

long term reliable oil stocks enti 

CVX

USO

[Hydrockers]

But still india lo price around 75 to 80

Modi thata ki antha kanna takkuva unte nidra pattadu anta

[xano917]

16 minutes ago, Hydrockers said:

But still india lo price around 75 to 80

Modi thata ki antha kanna takkuva unte nidra pattadu anta

this i am unable to understand... 

yekkuva unna time lo subsidy price ki amminaru that is good. but baga taginappudu lite ga koncham ayina taginchinte bagaundu 

[r2d2]

Thaatha ippude Zoom call chesaadu.. all is well..

 

[R_K_LunchVodka]

    bro maa garage lo koncham space vundi.. 

[dasari4kntr]

 

[acuman]

On 4/1/2020 at 8:56 AM, karna11 said:

todatam aapaleruu anukuntaaa, todesindhee chala vundhi especially arab countries storage ante kastam yeee

Right aaptam and produce cheyyatam kavalisinappudu it’s not like motor on/off switch 

[r2d2]

Trump spoke to MBS.. who then spoke to Putin..😀

[acuman]

On 4/1/2020 at 9:02 AM, karna11 said:

long term reliable oil stocks enti 

CVX

USO

USO is just oil fund management. No revenue or no business or nothing. Just as American Texas crude oil derivative