Post
Topic
Board Economics
Re: The drying oil
by
Findingnemo
on 28/04/2020, 20:43:50 UTC
snip...

This situation with the current low price, is going to cause a long term economic problem in the fuel market.
Many people now are buying petrol in order to get advantage of the low price and have stock for the winter. This means that winter sales ar going to be lower than expected.
Most of the governments were already stocked the crude oil needed for the next three months so I doubt that anyone will buy now the even US tried to store the produced oil in the containerships still the expenses are getting out of hand than the actual price that is the reason why the price of oil went down so when the condition back into normal we will see spike in the oil prices.