R river Apr 22, 2020 #2 Saint said: Why did oil price drop this time? Click to expand... Over stock . Less demand .
Michael 345 New year. PRESENT is 72 years oldl Valued Senior Member Apr 22, 2020 #3 Saint said: Why did oil price drop this time? Click to expand... From just what I hear on news Currently less, massive less demand Hence storage, both in the petrol station and storage depo Some company have bought oil years ago to be delivered later Later has arrived, oil is delivered, no where to put it Told to take it back Crazy situation Why not stop producing? Fraught with danger, possibility unable to reopen
Saint said: Why did oil price drop this time? Click to expand... From just what I hear on news Currently less, massive less demand Hence storage, both in the petrol station and storage depo Some company have bought oil years ago to be delivered later Later has arrived, oil is delivered, no where to put it Told to take it back Crazy situation Why not stop producing? Fraught with danger, possibility unable to reopen
M mathman Valued Senior Member Apr 22, 2020 #4 Many oil producers rely on oil exports for most of their revenue. OPEC plus Russia are trying to set up quotas.
Many oil producers rely on oil exports for most of their revenue. OPEC plus Russia are trying to set up quotas.
G gmilam Valued Senior Member Apr 23, 2020 #5 Supply and demand. Personally, I just bought gas for the first time in 6 weeks.