I f you are paying someone to take the stuff, seems like the point where you stop pumping it. I'm pretty sure that the storage is maxing out and I don't see demand outstripping supply anytime soon.

WhiskeyGrinder

(22,555 posts)

5. It takes quite a bit of time to stop extracting operations.

Reply to OAITW r.2.0 (Reply #3)

Mon Apr 20, 2020, 02:49 PM

Apr 2020

Recursion

(56,582 posts)

6. They've mostly stopped

Reply to OAITW r.2.0 (Reply #3)

Mon Apr 20, 2020, 02:49 PM

Apr 2020

The ones who still are are doing it on contract for a positive price

ret5hd

(20,595 posts)

9. Lets see...

Reply to Recursion (Reply #6)

Mon Apr 20, 2020, 02:53 PM

Apr 2020

Pay workers/equipment etc to pump it out of the ground

----OR----

GET PAID to take delivery of that oil and then sell it at your contracted price to your contracts.

I'm not a businessman, but...

elleng

(131,601 posts)

4. Markets:

Reply to Recursion (Original post)

Mon Apr 20, 2020, 02:46 PM

Apr 2020

S&P 500
-1.29%
Dow
-1.88%
Nasdaq
-0.39%

progree

(10,965 posts)

10. Fast dive in progress: S&P 500: -1.74% Dow: -2.36% (-571) nt

Reply to elleng (Reply #4)

Mon Apr 20, 2020, 03:06 PM

Apr 2020

Fullduplexxx

(7,888 posts)

7. Womp womp and thoughts and prayers

Reply to Recursion (Original post)

Mon Apr 20, 2020, 02:49 PM

Apr 2020

Chakaconcarne

(2,487 posts)

8. Trump is doing a tremendous job getting oil companies to reduce gas prices...

Reply to Recursion (Original post)

Mon Apr 20, 2020, 02:51 PM

Apr 2020

Campaign ad coming.

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