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Crude oil virtually worthless as storage capacities run low | DW News

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For the primary time in historical past, US oil costs crashed into destructive territory on Monday. That means producers should pay patrons to take oil off their arms. The crash was triggered by a collapse in demand as the world continues its shutdown due to the coronavirus pandemic. It’s an unprecedented improvement.
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29 Comments

  1. Graham Thomas

    May 14, 2020 at 9:11 pm

    I am still having to pay £1.20 a litre as a key worker to go to work.

  2. spyro matt

    May 14, 2020 at 9:11 pm

    best layman's explanation

  3. Estebahn Gold

    May 14, 2020 at 9:11 pm

    That fella on Wall st who bought 10,000 acres out here and said it's worth 10 billion ? So it's worth 100 USD acre?

  4. Fireball Xl5

    May 14, 2020 at 9:11 pm

    I hadn't noticed petrol going down much !

  5. Jogie Glen Mait

    May 14, 2020 at 9:11 pm

    This man made me happy and optimistic.

  6. Francisco Santiago

    May 14, 2020 at 9:11 pm

    I stop making that product

  7. Truck Taxi

    May 14, 2020 at 9:11 pm

    Yet, some gasoline producers/ companies are actually increasing prices — the audacity

  8. BeBeto williams

    May 14, 2020 at 9:11 pm

    Free oil for everyone?all jokes aside I'm i the only one seeing an opportunity

  9. Sorc Erer

    May 14, 2020 at 9:11 pm

    Rob Watts speaking about oil sounds like Professor Brian Cox explaining the Large Hadron Collider. 🙂 This is a good thing – we need more positive people!

  10. ArthursHD

    May 14, 2020 at 9:11 pm

    Fuel has quite long shelf life – now it is probably the best time to hord it.

  11. VxO4fame

    May 14, 2020 at 9:11 pm

    And just 1 day later the WTI crude oil prices are back to normal corona levels at 15 dollars per barrel.

  12. Kieran Daly

    May 14, 2020 at 9:11 pm

    Tankers are in demand

  13. call of duty ruined my life 987

    May 14, 2020 at 9:11 pm

    Charisma 100%

  14. Janie Rios

    May 14, 2020 at 9:11 pm

    Oil is virtually worthless but gasoline has not dropped less than $1.45 a gallon in Texas , but as soon as oil prices goes up then the gasoline prices shoot up immediately. ?‍♂️

  15. malakai651

    May 14, 2020 at 9:11 pm

    Oh dear the greedy leaches can't keep making money how sad. I remember reading the news several years ago when there was 10 oil tankers anchored off the cornish coast in international waters and the owners wouldn't allow them to land their oil until the price had risen. The world has been over this oil barrel for far too long.

  16. Alessandro M

    May 14, 2020 at 9:11 pm

    What does it cost to stop production?!?

  17. Chadx M

    May 14, 2020 at 9:11 pm

    for a short time maybe…

  18. Aristarkhos31

    May 14, 2020 at 9:11 pm

    Mr Watts looks so eager. People must not ask him anything very often. ??

  19. Kenny

    May 14, 2020 at 9:11 pm

    Which oil stock is it that everyone is talking about that hit an all time low?? I can can’t find it on E*TRADE

  20. pkasb90

    May 14, 2020 at 9:11 pm

    Surprised I filled up yesterday like usual but got a full tank.

  21. STARTING POINT

    May 14, 2020 at 9:11 pm

    I think this guy got his car tank full yesterday

  22. Lean 2200

    May 14, 2020 at 9:11 pm

    First time the container costing more than the contents

  23. Kundalini Airport

    May 14, 2020 at 9:11 pm

    Hallelujah ………

  24. Matjaž Čeh

    May 14, 2020 at 9:11 pm

    Lol people discussing money like its making sense when it clearly doesnt

  25. Sani Tizer

    May 14, 2020 at 9:11 pm

    Please take the oil trump stole for free… Greed

  26. Syed Zafar

    May 14, 2020 at 9:11 pm

    Middle East completely distrubed only for OIL . OIL is saying SHAME ON you who are fitting for me . Thanks COVID -19 . World is completely changed . LOVE you CHORRONA .

  27. FrankDad

    May 14, 2020 at 9:11 pm

    Buy oil stock. A war is brewing.

  28. SS Tan

    May 14, 2020 at 9:11 pm

    Texas can flip Blue (vote for Biden)

  29. Dr.Tanveer Ahmed, Ph.D

    May 14, 2020 at 9:11 pm

    OGDC must reshuffle policies towards saving Oil reserves at this golden opportunity rather than to pursue OPEC or depending with ARAB Leagues for Oil Purchase with their manipulation, this opportunity will make save Pakistani Economies in an upcoming critical situation as She (Pakistani Govt) are deeply escalating upon Indian Borders Wars in next December, 2020.

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