WTI OIL IS AT -$37

>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL
>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL
>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL
>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL
>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL
>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL
>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL
>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL
>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL
>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL
>WTI IS AT -$37 A BARREL
WTI IS AT -$37 A BARREL

Attached: -$37 A BARREL WTI.jpg (2048x1536, 439.34K)

wait, so now i get paid 37 dollars and free oil?

YES YOU GET PAID $37,000 TO PICK UP 1000 BARRELS OF OIL

Holy shit this is the start a new Great Depression isn't it. We are so fucked.

I have no fucking clue what comes next, but for some reason having a good ammo inventory brings me some comfort

Theres probably like 1000 feet of ice back on the ice caps rn and every polar bear just had 10 kids

>"Buy" 1000000 barrels of oil
>Receive 37 million dollars plus 1000000 barrels of oil
>Dump oil down local storm drain
Does anyone see anything wrong with this plan?

Master degree in Economics.

Negative prices generally do not exist in most markets. Oil is different.

Oil has all sorts of crazy competition structures, oligopolistic, with a lot of "games" being played among producers. Also, the production chain of oil is complex and once you decide to produce it, it takes a while to interrupt the production. Also, storing it is expensive, since it is flammable, liquid, etc..

So, put all this togheter:

(1) No demand due to coronavirus
(2) Fracking production from US skyrocketed
(3) Price war between Russia and Saudi Arabia

And suddenly you got what you see today, a bunch of producers competing instead of cooperating in cartels, and NOWHERE to stock it. And you can't just throw it anywhere.
So they are literally paying who can store it.

I'll admit these negative prices are suprising nonetheless.

Climate change canceled.

Some one actually better explain this shit to me, you're telling me I'll get paid to take an oil barrel off of some one's inventory?

Attached: 1569778174086.jpg (480x528, 171.3K)