Official (Alberta) Oil Discussion Thread

[PeteMoss]

as low as $0.11/barrel today? Whoa.

[Hockeyguy15]

Negative WCS, I could expect. Negative WTI? Bananas.

[transplant99]

Un####ingbelievable.

[Izzle]

Guys you should be looking at the June 2020 prices. It currently has the highest volume trading. May prices are too short term to make any sense.

Sent from my Nexus 6P using Tapatalk

[Hockeyguy15]

Yes I know June trading is still like $20 but it's still crazy to see this.

[you&me]

Originally Posted by Izzle

Guys you should be looking at the June 2020 prices. It currently has the highest volume trading. May prices are too short term to make any sense.

Sent from my Nexus 6P using Tapatalk

That's true, but it's still bananas to wittness.

WTI has hit NEGATIVE $40

[JohnnyB]

This is historic. Seeing these prices is wild.

[RichieRich]

How is it that when the major trading has runaways they shut the market down for a while. ie TSX, Nasdaq, Dow. but not oil?

[_Q_]

This is all the Trudope's fault. LIEBERALS are literally killing this province!!!1!.... amirite guys?

[nik-]

Originally Posted by Hockeyguy15

Yes I know June trading is still like $20 but it's still crazy to see this.

$20 might as well be zero. Just a slower death, but not by much.

[Derek Sutton]

Hit -$35 five minute ago......

[Bill Bumface]

WTI -$37.63 right now. Holy hell.

Edit: Too slow

[Hockeyguy15]

Originally Posted by nik-

$20 might as well be zero. Just a slower death, but not by much.

Yeah but you and I get to stay employed a little longer at $20, so I’ll take it.

[csnarpy]

So? Gas becomes free then?

Very shocked to see those drops on the ticker today. Just insane.

[GGG]

Originally Posted by csnarpy

So? Gas becomes free then?

Very shocked to see those drops on the ticker today. Just insane.

If you have a place to put it and a way to get it to that place someone will pay you to take it.

[calgarygeologist]

Originally Posted by csnarpy

So? Gas becomes free then?

Very shocked to see those drops on the ticker today. Just insane.

If the gas stations aren't paying you to fill your tank you are getting screwed.

[Jordan!]

Ok. so Calgary's economy was already pretty bad. What does this mean? Having family in the industry I feel awful for them.

[Slava]

Lol (you have to laugh so you don't cry), but the Saudis are mulling over cuts to production immediately rather than waiting until May. A) Do you think that's probably a good idea? and B) that MBS is just an unbelievable strategic thinker. At those cratered prices I thought that Aramco could make money and that was it...but he took care of them in the process as well. Brilliant.

[nik-]

Originally Posted by Slava

Lol (you have to laugh so you don't cry), but the Saudis are mulling over cuts to production immediately rather than waiting until May. A) Do you think that's probably a good idea? and B) that MBS is just an unbelievable strategic thinker. At those cratered prices I thought that Aramco could make money and that was it...but he took care of them in the process as well. Brilliant.

There's a pretty substantial gap between Aramco making money and KSA being able to continue handing out the pacification cheques to their populace. They need that money to make sure they don't end up inside of the tiger whose tail they've been holding.

[JackJack]

KSA are currently withdrawing from their sovereign wealth fund to make up the difference to fund their infrastructure/social programs/everything else in the country with the lost oil revenue.