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Mar 30, 2020
2:54:04pm
HarlemCoug Truly Addicted User
Maybe but... with storage tanks nearly full and demand down something like 15m bpd.... there is actually talk that oil
prices could go negative.

The theory behind this is... it's expensive to shut down a rig.... but if you don't have any place to put the oil what would you do? Perhaps you'd pay people to take the oil from you???

Jet fuel is about 6m bpd alone... with decreased air and car travel.... there are real demand issues right now.

I agree with Heath though - USO is probably the best way to go long if you want....
HarlemCoug
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HarlemCoug
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Apr 28, 2024
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