Oil Prices Are Negative And Nobody Knows What That Means

  • AUTHOR: dua
  • POSTED ON: April 21, 2020

As if this year wasn’t traumatizing and confusing enough, the impact of Coronavirus has made us ponder on another question of significance. Well, on Monday. the cost of crude oil plummeted to less than $0 per barrel and nobody knows what that means.

Due to the orders of social distancing, many oil suppliers are left with a barrage of excess oil. Now the US is running out of storage and doesn’t know what to do with the excess oil. So… just a general question, when you don’t know where to store crude oil, what do you do? Simple! You lower its cost to $0 and confuse everyone.

So, like always, here’s the response of Twitter because no matter what goes on in the world, Twitter users have a lot of say.

Updated April 21, 2020
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