Twenty dollars

Gas prices still high though why?

It fell 50 cents where I live lol it’s like 1.82 per gallon

Thats because they’re expected to go under soon

you can just buy stocks in oil companies. They are really cheap right now.
There is no need to mess around with actual physical oil.
yes
good for you. Although I am not a fan of derivatives. I prefer to buy stocks and just ride it out. The tide will turn.

>the product a company extracts is always valuable so invest in that company
Do you understand that a lot of these oil companies are in debt because they funded fracking operations when oil was at $70 a barrel and they’re risking bankruptcy soon if oil stays at this price

isn't it a bit early to go all out on assets? The recession has just begun imo, the all time low is far away.

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What do you think about PETROBAS?

I specifically said to stay the fuck away from shale:
>But stay the fuck away from shale. Be a little wary of companies

TWENTY SEVEN BURGERBUCKS A BARREL RETARDS
PLANES ARE NOT LEAVING THE GROUND
TRUCKS ARE STAYING PARKED
AMAZON IS SHUTTING SUPERFLUOUS DELIVERIES
WHAT ARE YOU FUCKING IDIOT DOING WITH YOUR LIVES
OSAMA LAND IS CRASHING THIS PLANE WITH NO SURVIVOR
HISTORY IS HAPPENING NOW

Based
Lmao Ford has the least amount of bad loan monies on the street of any auto manufacturer and they've already done the expensive groundwork shifting several plants to electric manufacturing. They're poised to go on a run after the turmoil. Only someone who doesn't follow auto manufacturing at all would think Ford is close to bankruptcy.

Rational thought has no place on this Kazakhstani basket weaving forum

But where am I supposed to store it? I don't have room for barrels of oil in my bedroom.

these companies have 1000 barrel minimum requirements at least for any purchasing

>they’re switching to electric therefore they’re in good shape
that’s not how the car business works

Oil is low right now, but it's not at HISTORIC lows.

The inflation adjusted low is $17.50.

The nominal low is $11.

$27 is nothing if the Saudis and the Russians wanna pump and the American producers will be BUTTFUCKED.

Everyone is buying oil like their life depends on it because they're betting that people will trade again and that the oil cartel will eventually reassemble to spike prices again once they've all bled enough. That's what's driving all the assets through the floor everyone is converting everything into US dollars so they can buy oil. The Saudis and Russians are selling all their assets to make up for their operational deficits.

Any trader with an iota of IQ is buying oil like their life depends on it rn and they're gonna hodl that shit and get filthy rich next year or so.

This market can go lower. We were at this point in early 2016 without anything close to the demand collapse that we're going to experience as a result of the lockdowns.

If you bet the farm on $27 per barrel, you're gonna have a bad time.

Accumulate for sure, but stage your buys as it trickles downwards.

haha thx user

>gas was 1.40€/liter in 2007 when the barrel was $150
>gas is still 1.40€/L in 2020 when the barrel is $20
>93% VAT on gasoil

You can't get more cucked than french.

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$1.04 AUD per liter here my frog eating friend.

how can we know if they're willing to go this hard? 27 is already making my blood boiling

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That's exactly how the car business works. It goes through predictable cycles of profitability as companies are forced to heavily invest in new tech so they can be ready to compete in the next generation. Everyone thought ford was going to go bankrupt in the 50s because their sales were sagging a bit and they were spending a fuck ton of money converting their plants to produce the brand new thin wall casted V8s and thrift 6 inline. Once they completed those Windsor V8s and started slapping them into their brand new unibody falcon chassis platform they turned into the most profitable company of the 60s. None of that could have happened without the investment of the 50s and the hard financial sacrifices that implied.

This, waiting for $10-20 myself

>and they’re risking bankruptcy soon if oil stays at this price
this is partly why I'm so god damn bullish on oil. There's just no way the US can allow the entire shale industry to go bankrupt. If all else fails, wars will be started to get oil back up.
>isn't it a bit early to go all out on assets?
depends what asset. The stock market will go further down. I agree that we have a long depression ahead of us, but oil will go back up.
There are two extraordinary and highly unusual events that are currently driving the oil price down, namely complete worldwide shutdown because of corona virus and russia/saudi dick swinging contest. Once either of these two clear up oil will go up.
>What do you think about PETROBAS?
I'm very bullish. In general I am very bullish on any oil that isn't shale. Although I am somewhat skeptical of north sea companies
>This market can go lower.
I fully agree. But it will go up fairly soon as well. I see no reason to wait and try to buy in at 20 when it's pretty much certain that oil will be at 50+ a year from now anyway. This is too good of a deal to pass up, don't overthink it.

Exactly but you're gonna want plenty of cash on hand so you're ready to pounce on the way down. You're right though we ain't seen nothing yet.

Except over 90% of the market is gasoline and diesel and that won’t change for at least ten to twenty years

>There's just no way the US can allow the entire shale industry to go bankrupt. If all else fails, wars will be started to get oil back

They're going to close the ports due to """coronavirus""" to protect American shale producers from a wave of cheap oil hitting the domestic markets.

>at least 10-20 years
EXACTLY. Just as I outlined for you car manufactures need to think in DECADES. Ford is willing to suffer now to be poised in the next decade. It's one of the pluses of being a family majority owned and operated company with their name on it. They think long term instead of short sighted shares price thinking which is what happens at GM and Fiat-Chrysler which is why they'll be caught flat footed AGAIN and go bankrupt AGAIN and need another bailout AGAIN. They haven't called in bad loans and now there's a liquidity crises and unfolding derivatives crisis and who's gonna get caught holding a fat stack of bad car loans? Why the financing arm of GM and Chrysler of course. And do you know which arm of a car manufacturer is most profitable? Oh that would be their financing department. Looks like big yikes time for the other 2 of the big 3 to me.

Dude everyone will be holding a bad stack of car loans. The issue is Ford has debt rated as junk.

What exchanges have this coin?

Agree, I dont understand why everyone thinks this will all be over next Tuesday, this will be a problem for a while yet

Ford has been restructuring their financial arm already. Thats why their debt got downgraded. Again, Ford things long term. They've already made their moves. They did this before '08 too and everyone left them for dead and who didn't need a bailout? Who came out swinging with several new lines of wildly successful models in the early part of the 2010s?

What you're missing in all of this is that Ford is actually ahead of the curve and that as bad as they look everyone else is about to look 1000x worse.
fool.com/investing/2019/09/11/ford-doesnt-deserve-its-new-junk-credit-rating.aspx

What's your top oil stock to hold for the long term

literally boomer trade, get with the times grandpa

This too will pass the moment either Russia or Saudi Arabia gives up on it's insane oil discounts

As a britfag, is BP a good investment?

Where 2 buy black boomer juice?

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Yes. I think many are just eager and impatient so they tell themselves that the recession is over when it clearly has just begin. People are funny.

Ask yourself if parliament considers BP too big to fail... If yes then you know what to do.

for me, it's shell

Checked but isn't it early? Shutdowns are just getting going

I owned Canadian oil producers before the crash and they were cheap back then.

Took a brutal shit kicking, wish I can buy more at these prices.

Wet your beaks below $27. Don't go all in yet.

Do strategic buys all the way down to $20.

I repeat: DO NOT GO ALL IN YET.

I'm easing myself in. I'm behind on retirement saving and taking this in nibbles. Bought some this week, buying more next month, etc. Barring full collapse, I should be fine.

what oil funds should I buy in?

USO follows the price of crude most closely
there are also x2 and x3 ETFs. A x3 ETF that is being shilled hard in /smg/ is GUSH

> oil double or triple by Christmas time.

You are a literal spastic. Oil is dead.

>depends what asset. The stock market will go further down. I agree that we have a long depression ahead of us, but oil will go back up.
>There are two extraordinary and highly unusual events that are currently driving the oil price down, namely complete worldwide shutdown because of corona virus and russia/saudi dick swinging contest. Once either of these two clear up oil will go up.

And that's exactly it, they won't back down, zero-carbon 2050 is about to get arse shanked. Russia has more reserves than anyone and the Saudi's produce it cheapest, Bye Bye Mrs US Oil Pie. Them, reserves in Alaska? Russia has more.

planes can finally fly on solar energy now?

It isn't even edible, baka

Lol the U.S. capped California's wells in the 50s. You ain't seen nothing yet if the U.S. has to pop the cap on their "strategic" reserves.

Do you not see the macro level movement here? Russia nor the Saudi's are going to back down. Anyone who thinks oil will triple by Yule is a retard.