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Prices for low quality US crude prices have already turned negative amid the ongoing collapse of the global oil market, started with the Saudi attack on other oil producers, mainly Russia and Iran.
The falling demand to this type of crude forced oil producers to introduce unprecedented discounts. Some of them even pay to the buyers for the delivery of oil.
IMAGE: oilmonster.com/crude-oil-prices/wyoming-asphalt-sour-price/180/28
For example, Mercuria Energy Group Ltd is now selling Wyoming Asphalt Sour crude for approximately 0.1 USD for a barrel. Actions of the US ally, Saudi Arabia, on the oil market are destroying US shale oil producers.
Russia can produce more and for less than the sauds,about time in the wests narratives are doomed!
” For example, Mercuria Energy Group Ltd is now selling Wyoming Asphalt Sour crude for approximately 0.1 USD for a barrel. ”
Next stop for the USA is Hyper Inflation. :)
http://image.shutterstock.com/display_pic_with_logo/344692/344692,1250689767,1/stock-vector-cartoon-laughing-bear-vector-illustration-35527954.jpg
Negative oil prices !!! Do you have any area for storage Florian? These are just some of the barrels I picked up recently, it may be a heavy and bitter crude but I do do not care. Perhaps use it repair some asphalt ? :DD https://uploads.disquscdn.com/images/25d1e1c4dc2cf67adfc8920a4444abce9de0dc871a7717d8a351bfce052e9419.jpg
Haha. Syria produce a lot of asphalt ..
NONSENSE SPAM!
I have the space, but it is illegal to store oil without a licence and suitable infrastructure. :) It would probably get stolen anyway by the Irish Travelling Community.
USA are in balnce with themelves according production. No hyper. Cheeper oil is a plus for them.
The importance for them are what they produce by their high energy flow.
Americunts are fucked one way or another.
The reality is that even on the Bilderberg globalist Jew highly optimistic forecast the demand for global oil in a “high growth” scenario, even before the dumbass Americunts released the corona virus and goaded their Saudi fuckwit arselickers to get into “oil wars” with Russia, the daily demand was 99 million barrels, now with the home goal the morons have scored, oil demand is down to 30-35 million barrels daily as most economies are shut down and “globalization” is fucked permanently. As I have said before, Saudi morons and their dumbass Americunt masters will have to pay nations to but their oil. The Americunt shale and toxic Canadian tar-sands have a very high cost of extraction and production at a break even point of $60, which was both financially and environmentally unsustainable. The Russians, who have a very strong diversified technology based economy have played it smart and with patience and have literally fucked both the Saudis and Americunts. Russia can play the long game, these morons can not. Saudi idiots are losing a war in Yemen that is costing them $5 monthly and there are daily rumblings of palace coups and while the Americunts are dropping dead in the streets. So who do you think will “win” this oil war?
Why then do you insult Putin in other posts? Yes you are right here! Respect due,where due,lies will be reproached accordingly,Putin is not pro lgbtq!
Who cares about these shale oil companies. They have drilled more or less where they want, destroyed more than they care to admit and have left a big environmental problem for the future.
Whatever happened to american free enterprise? perhaps the enterprise was never free. Live by wall st, die by wall st.
Yes, its a sector evaluation.
SPAM!
Shale oil and Canuck toxic polluting Alberta tarsands were unsustainable anyway and were only kept afloat by massive tax breaks and Saudi poodles artificially keeping oil prices high. We are past peak oil anyway as there is massive investment in alternate technologies and so-called “globalization” is dead. There has to be a new economic paradigm now as this annual “growth” at any cost scenario was suicidal. I also believe that the massive immigration and global cultural and economic destabilization will also take a back seat now. The fucking Jews have made enough mess by relocating manufacturing to cheap slave labor hubs, just for short term profit. This has caused the abyss we are in.
Nice to see whats going on in USA but USA has a zero balance in oil.
The important changes are – as written – the countries where oil is the main im- and export, where the article mention only Saudis.
USA – so to speak – dont care about that asphalt oil. They like oil is cheep and there is enough of it and right now there is enough + +.and its cheep.
Its bad for the exporters fx like Russia, where some recession with low prices speed up the sales giving the west/mainly europe) oil/fuel for almost nothing and less income mainly in dollars a a helper in the times of Corona and a few other problems.
Russia fx are estimted to big problems having less then 40 dollar pr barrel. Now they have to sell much more to get the needed income, but are ther buyers. Thats where the bad changes are or will come.
As usual I only can recommend windturbines, solar electricity and less waste to the sky for fossils. You even get a cheeper and cleaner air and less dying in lung and eye infections.
If You cant make money its often time to see on unneded waste. It often create jobs and long term plusses. Its a kind of strange first to make fossils burn and then make electricity for a car, when You can direct plug and play.
An old scottish joke says, that if You carrie Your coal around before You use it, You will save money, bacuse that will keep You warm until You get tired.
I forgot to mention heating pumps giving 3 times instead of the chimeny version, smog and unneeded extra trasportation.
SPAM.
Nice to see whats going on in USAm but USA has a zero balnce in oil.
The important changes are – as written – the countries where oil is the main im- and export, where the article mention only Saudis.
USA – so to speak – dont care about that asphalt oil. They like oil is cheep and there is enough of it and right now there is enough + +.
Its bad for the exporters fx like Russia, where some recession with low prices speed up the sales giving the west/mainly europe) oil/fuel for almost nothing.
Flagged as SPAM.
https://en.wikipedia.org/wiki/United_States_energy_independence
Its nonsense someone would sell oil for 10cent a barrel much cheaper than water, unless its a toxic dirty oil to be disposed. They would rather stop pumping and keep existing inventory for later better price.
If true, its likely a short term stock clearing that stuck at somewhere costing high storage charges, while the dirty oil has extra high processing cost & toxic waste to dispose. Won’t be many barrels & going long.