Re:Oil plunges below zero for first time with May contract e...
by somebodythere on Monday April 20, 2020 @11:01AM
(#22924382)
In the near term, Fed buying oil for future delivery and instructing drillers to keep it in the ground.
In the longer term, the bankruptcies and capex cuts going on every day in the space--a lagging supply constrictor. Should be fuel to propel WTI to 80s when people start flying and driving again.
In the longer term, the bankruptcies and capex cuts going on every day in the space--a lagging supply constrictor. Should be fuel to propel WTI to 80s when people start flying and driving again.