Comments on post titled This Glut will wipe Many Middle Eastern Countries that depend on trade of Oil like Ksa.. Just imagine Oil below 0$ (updated 70 months ago)

Damadam.pk

Comments on post titled This Glut will wipe Many Middle Eastern Countries that depend on trade of Oil like Ksa.. Just imagine Oil below 0$ (updated 70 months ago) | Damadam

mr_Nafay

: This Glut will wipe Many Middle Eastern Countries that depend on trade of... MORE▼

Oil like Ksa.. Just imagine Oil below 0$

- 5 years, 4 months ago

pathan-e-khan: hostile take over is near the south china sea but the strategic take over is the one we should be worried about

btw in the short term even poor countries like Pakistan get an advantage due to lower oil prices.70 months ago

mr_Nafay

: China is the only one Getting advantage in all these circumstances even doing Hostile Takeover in Many Countries xD70 months ago

pathan-e-khan: oh no no no they will never completely cut off supply. what they have decided is to reduce oil production from 1st of May and they are already hinting at further reductions. In the mean time China is having a field day by buying oil in bulk at the price of water

70 months ago

mr_Nafay

: Isn't Opec+ Totally Cutting off Supply that's the worst scenario.. But It's okay If they Reduce production70 months ago

pathan-e-khan: well this was bound to happen since WTI (mostly shale oil) was destined to get hammered. OPEC doesnt like shale. Also OPEC+ decided to reduce supply due to pressure from the US and also the emotional driven decision of over producing in the first place was made at the worse possible time. In order to make more money they need to reduce production70 months ago

mr_Nafay

: I see but it's quite Alarming for them because Negative trades effect badly although Ksa is doing further trades.. Why Opic+ decided to cut off supply?70 months ago

pathan-e-khan: KSA is selling oil to USA (they have shipped quite a lot to the US which will definitely lead to futher downward trends for WTI) also do remember that China has also increased their purchase of oil. In the long term WTI is screwed bad while OPEC/OPEC+ will survive. Also OPEC+ have already decided to cut oil supply from 1st May.70 months ago

mr_Nafay

: I know but where are they gonna store that much of Oil If they're trading with Ksa in future... People are in their Home70 months ago

pathan-e-khan: eerrr you do know this is US oil and NOT OPEC oil...this will wipe out oil companies in the US. Middle Eastern Oil is still pumping away and even sending oil to US. Their Oil prices are much higher than WTI. Also this is a Oil Futures price for the month of May which has rebounded since yesterday...70 months ago

Parako: Sed😐70 months ago

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