OIL CAPITULATION: SECOND THREAD (Now trading at $2.3/barrel)

Oil prices have dropped 96%+ since January this year i.e in less than 3 months. Today, in a single day, the price has dumped 90%. Probably the worst day in history for oil.

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What is happening!

Ile recession itakuwa hii dunia inapiga push ups

Oil has turned worthless?

What?
That’s ksh 239 for a whopping 159 litres of crude. Or ksh 1.5 per litre.
Interesting times ahead!

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Oil might subsequently be scarce if the companies producing and distributing it are unable to operate at all. It will be a mess.

Mbona bado fuel iko juu kenya

It’s now at 0.35$ per barrel

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Imagine how countries like Venezuela will cope with their economies being almost entirely dependent on oil :eek::eek: The Middle East and Russia wataumia zaidi.

Venezuela washa zoea, Nigeria nao tutasema nn?

I’m wondering why it’s price is dropping though. Right now i can get it at wholesale for 83 shillings. And diesel is never more expensive than petrol but is now.

How much oil is China importing right now??

Now trading in the negatives.

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Interesting times ahead indeed

Canada pia wako hard hit

The world will never be the same again.

Hii ujinga yote ililetwa na Saudi Arabia na Russia in a dick measuring contest.

Saa hizi unalipwa kuchukua oil. Kimeumana!!!

Scary times ahead.

A result of crude surplus only tells you that producers have hit the storage curling.
Mafuta ni nyingi sana sasa.
Had Kenya and other poor countries had huge storage infrustructure,they would make a kill.