An oil crash was to be expected, given the lack of demand and overfilled storage. But -99.9% doesn't happen, even in these circumstances. This was some big fish who were willing to dump everything at a worthless value. It seems plausible that a nuke or some other dooms day scenario is coming. Why else would people be selling for peanuts?
THE REAL REASON OIL CRASHED
James Murphy
Ryder Cox
an oil barrel just flew over my house!
Bentley Bell
I completely agree OP.
Liam Williams
Isaiah Walker
>Why else would people be selling for peanuts?
Because people are idiots.
All the way to the tip top.
Angel Jackson
they ran out of buyers and storing/transporting 42000 gallons of oil is expensive
Xavier Reed
SARS2 is was worse than they are letting on. We are most certainly going to be in a global conflict soon. I also think something else, major, is about to emerge...
Ayden Wilson
Whoever made that image is retarded, the size of the rock itself is much smaller. That’s the size of its trail
Samuel Jones
but I also agree that it seems like something big is coming
Jonathan Gonzalez
>Why else would people be selling for peanuts?
Could be that some gigantic fund or bank realized they're going bankrupt when the economy takes a proper shit and decided to liquidate everything and transfer their money to safe havens while the market is still green.
Make no mistake economy will drop like a rock and we're going to go into gigantic depression and these large funds and banks are going to be in deep shit when that happens.
Mason Perry
COMET
Ryan Smith
Hope Berlin gets nuked.
Dylan James
Dear kek, is it comet or Yellowstone?
Ethan Bailey
Aw fuck
Leo Campbell
Because the herd, once panicked and running, does not fear the cliff.
Lincoln Turner
Yeah the cloud not the comet. The comet is smaller it just has a huge cloud. I kinda hope it kills us get off this lame minecraft server via perma ban lol.
Ian Price
>some other dooms day scenario is coming
Like what though? It's always larping with dooms day predictions.
Thomas Bailey
>US NOT CUTTING
>SAUDI NOT CUTTING
>RUSSIA NOT CUTTING
>DEMAND GOES TO ZERO
gee i wonder what the price would do
Gabriel Green
I don't think it will we be either. Probably something we haven't thought of yet.
Hudson Clark
Hunter Torres
Dylan Edwards
Were making nations great again
Caleb Sanchez
Incoming new wave of doomer new fags jeeeeeeez. This sucks.
Michael Carter
WHY?
Perhaps because they want to crash the petro dollar? because orange man bad?
Isaiah Morgan
isnt it fascinating to see a commodity be attacked from both the supply and demand side, at the same time?
I’m not sure of a time where this has happened before, at least not to this extent
Daniel Lopez
I have seen a theory that an hedge fund related to oil collapsed and this is the fallout
Ayden Hernandez
Jace James
thats more of a consequence
what happened here is
- demand drop big due to all the lockdowns.
- The 8 largest oil producing countries all got together and said we should cut production
- Everyone agreed, except Russia
- Russia thought, hey maybe if we keep production up, people will come buy our cheap oil and we will make a killing on volume.
- (((OPEC))), Mainly Saudi Arabia, says fuck that, and boost production (who can produce at some of the lowest cost) to put the squeeze on Russia
- All while demand for fuel keeps falling.
- You are here.
Justin Sanders
Welcome to the 13 days of sacrifice anons.
Isaac Phillips
Anyone else gonna watch Greenland (2020) coming to theaters in June?
Aiden Wood
w-what comes after?
Adam Cruz
Wir schaffen das
Connor Fisher
It isn’t even close to hitting us.
Nathan Phillips
Something big is about to happen
Grayson Kelly
and you know this how?
lemme guess
NASA told you??
Haaaaaaaaaaaa
Cameron Collins
If oil (WTI) is going for 1 cents per barrel, that means that someone is selling it for that price. I sense some fuckery going on.
John Evans
>0bkElNiD
>digits
>Three capital letters in ID spell E N D
user, What did you just do??
Bentley Ward
Easy.
This
Dylan Long
Its unavoidable cuz somebody just lost it ALL
Jeremiah Morris
Rides not even close to being over friend and its going to be fucking nutty
Christopher Morales
The reason oil has dropped so much is because you can't turn oil production off, and they ran out of storage space. The oil production line was never designed to be turned off, and now everyone is sitting at home.
Daniel Robinson
Houstonian here, oil production has been at max for over a year and there were tankers parked off of galveston for weeks waiting to unload at the refineries in the Houston ship channels. Now cut demand by 75% for 6 weeks and now you have ships that sailed halfway around the world that cant unload their oil for at least 6 months. The only reason oil wasnt sellinf for 50 cents a gallon was due to crude speculators but now those same speculators are dumping their stocks ans since they all know each other they all did it at once before all the retirees and private traders could catch on to what was happening. There are enough crude reserves sitting in the ground right beneath me to run the state for 2 years alone. Everyone in Texas is fucked because oil drives our economy.
Jack Campbell
Checked. We're fucked