Oil oil oil!

Where do you think it's going in the next week?
It's going to moon because of the production cuts?
Or the contrary?

Did you buy commodity or stonks?
Let's discuss this shitcoin together

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I know where it's going. In my fridge cause I just bought some virgin oil. And before you ask, yes it's for anal lube

RLC holder?

It's not gonna moon next week, the demand isn't there yet even with the cut

So it could crab or even keep falling?

Also lurking. The prices went up today really fucking weird. It would be logical to drop. Just DCA all the way.

When do we party like it’s October 3rd 2018 bros?

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>Crude oil price dropped more
>Stocks pumped
That's for a shitload of normies buying stocks with their trumpbux, i guess

Oil is bearish until either the U.S gets back to work and/or Trump puts sanctions on Russian crude and punishes the Saudi's. I expect the latter.

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OIL (Barclay's bank PLC) traded double its volume today... 7.4 mil average, hit 14.8. Price action was weird across oil stocks in general today.

However I do feel while we may still see a slight dip in prices, Oil will fucking sky rocket the moment any form of travel is available.

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>punishes the Saudi's
with a couple of nukes hopefully

Not worried where it goes on day to day I'm just throwing 3k in every month like clockwork.

Also Id like to add that oil is one if the safest investments ATM. Price has already bottomed out, They're upping their dividends and you know Trump will bail them out if need be.

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I only really have access to this ASX ETF (OOO), but im wondering if there is something fucky about it becayuse all it has ever done is go down

Should I buy oil with my first paycheck (1,250) bros? It would be my first time buying stock too

WTF is 1200 bucks going to do? Come back when you have real money.

what's real money?

gold and silver

Buy Chesapeake, they're gonna moon.

This. MBS is a fucking satanic cunt

Put it all into MPC when it goes back under 24

Way ahead of you bud.

The other half went into crypto.

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Thats what I did; gold, silver, crypto, and the rest on stocks.

gilead

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Based batboi buyer. Also fuck you jm is sold out now. Can’t get my weekly Batboi

This is not investing these threads should be in /c/

chiwoo chew on wang

Rystad Energy's latest revision down for demand in April was 72.5 mil/bpd. Normal is 100 mil/bpd; That's 27.5mil/bpd destroyed. The OPEC cuts don't even start until May, and even they admitted there was an impending storage crisis / supply glut coming in May if nothing was done.
Even with the cuts, worldwide oil storage is getting VERY full. VLCC rates are running 6x normal, assuming you can even find floating storage at this point.
Things that are going to happen:
> Regional (then general) oil price crash
People won't be able to give oil away. Landlocked areas like the WTI production region are going to get hit hardest with this. IMO single digit prices are still possible. Marginal energy suppliers like US shale are already running into financial issues, I suspect a bailout will come but likely not until after the fact. This will likely drag down the energy sector, and if you want to buy and hold long term; feel free to pick up cheapies when it hits. Large shale, any supermajors (xom, etc.), mid-caps like HESS, etc. Small producers may go bankrupt, especially shale.
> Tankers have a banner Q1/Q2 (Not sure on Q3)
Here's an easy play, and the markets still haven't totally figured this out yet. I'm seeing more discussion about this every day on twitter. For the brainlets: Tankers are floating oil storage. People pay money to horde cheap oil, then sell later at a profit when the price recovers. Literally just google "Largest oil tanker companies" and pick any of them. I like TK, TNK, STNG, TNP, NAT. Buy some calls that expire end of Q2 or Q3 and you should do well.
> Long term, full recovery
World runs on oil, and as places come back online from the virus, demand will come back too. Producers won't bring their wells back online quickly though, and as the storage glut is eventually depleted; prices will spike well past the $30-40 range they've been holding at. They'll eventually settle down close to where they were before the crisis, maybe 2-3 years out.

You may have just made some bizlets a lot of money, if they are patient enough

ok. I'm an idiot and bought $USO shares. Should i hedge with some puts (June)?
Or sell at a loss (would be $1k at this point), and GTFO of an oil ETF completely?