Don't believe the traded prices at around US$ 20/ barrel
In the real world where physical oil is traded, there are places you get negative oil....meaning oil producers pay people to take away their oil.
why? Because demand has totally disappeared and it costs a lot of money to shut down oil wells. So, the real price of oil is now negative in some places.
The only people who are laughing are those operating oil tanks. You got oil tanks, you got gold in your hand. Like Dialog.........Dialog got oil tanks, and now oil tanks are Kings.
You cannot find oil tanks, what are you going to do with your oil? Throw them into the ocean? Flood them into the rivers?
Now.....this is proactive................Telling you as it is....................implications on your oil and gas shares? You think about it yourself..........................................
On the other hand, those who use oil as raw materials see their raw material costs slashed.................companies like Top Glove , P Chem, Supermax
https://klse.i3investor.com/blogs/qqq33333333/2020-03-30-story-h1485703789-negative_oil.jsp
