Investing

The 2020 OIL CRISIS Explained

the-2020-oil-crisis-explained



Based on the closing price of oil yesterday, oil producers are literally paying buyers $37.63 a barrel to take oil from them. Now this is not based on the oil price right now, this is based on something called a futures contract. And this is simply a type of business agreement where a price is determined today for a commodity, like oil, to be delivered at a future date.

So the price of oil to be delivered in May dropped to -$37.63 a barrel yesterday. This is because a barrel of oil has become a liability at this point, not an asset. Under normal market conditions, oil does have value as it can be refined and used for many purposes. But right now, with the world effectively shut down, oil demand has plummeted.

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44 Comments
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Robert Dunfee

44 Comments

  1. Ryan Scribner
    July 16, 2021 at 8:03 am

    On that note, is anyone interested in storing some barrels in their backyard?

  2. PEDRO LUIS CARDENES QUINTANA
    July 16, 2021 at 8:03 am

    2020 did not cause an oil crisis..this is a cumulative effect from the past..peak oil was in 2005…the near future years are bleak for oil production…in fact oil and lack of other resources have caused the pandemic

  3. pat c
    July 16, 2021 at 8:03 am

    the oil crash is the trigger for the coronavirus…it all adds up….covid was not intended to be a health issue, it was economic warfare

  4. Iron *Fe*
    July 16, 2021 at 8:03 am

    I heard Cheese goes well with Whine.

  5. bashy s
    July 16, 2021 at 8:03 am

    Russia China and Venezuela happened

  6. Axel Sprängare
    July 16, 2021 at 8:03 am

    Will invest…

  7. Hisanori Hatanaka
    July 16, 2021 at 8:03 am

    Really appreciate it. My invest professor. Crude oil and airline syncronized ? Watch them both, correct?

  8. Angel Melendez
    July 16, 2021 at 8:03 am

    I’m my opinion oil should be treated like toilet paper in countries. They should stock up right now since it’s at a cheap price. But hey that’s just me.

  9. Ernest Sill
    July 16, 2021 at 8:03 am

    Sends this extra oil to third world country for lower price, and get oil back to normal price let’s go!!!!

  10. Passive Income Tom
    July 16, 2021 at 8:03 am

    SUN is holding it's own during this oil crisis and paying me a nice dividend. 😉

  11. William F
    July 16, 2021 at 8:03 am

    The market signals that gas gonna be free in the near future.

  12. BK MTB
    July 16, 2021 at 8:03 am

    almost unsubed after that opening joke

  13. Lenore Allen
    July 16, 2021 at 8:03 am

    Are Koch brother happy?

  14. John Lennox
    July 16, 2021 at 8:03 am

    When prices are low it’s a “crisis” and when its to high you all it a “crisis” come on!,

  15. mickey rat
    July 16, 2021 at 8:03 am

    Yet Tesla stock is at over $700… market manipulación as the French say??

  16. Eddie Costa
    July 16, 2021 at 8:03 am

    What are good oil stocks?

  17. VinnyLogz
    July 16, 2021 at 8:03 am

    Everyone go to your local gas station, tell the attendant to pump your gas and pay YOU the amount on the screen!!

  18. GazaAlley
    July 16, 2021 at 8:03 am

    Great video but thumbnail is so cringey sheesh

  19. Franklin Stowers Jr
    July 16, 2021 at 8:03 am

    Like a BIG card game wonder who had to fold em and sadly walk home.. Its d at this point it is hard to see who won and who lost.. Remember for every loser there is a winner.. Just Sayin

  20. toobglued
    July 16, 2021 at 8:03 am

    can you imaging if home heating out gets locked at a low price per gallon? then when it goes back to normal, vendors will be broke

  21. Gary Ryckewaert
    July 16, 2021 at 8:03 am

    This guy is so incredibly hot!!! How is he not married? Could you Imagine sleeping with this guy every night of your life? It would be heaven!

  22. - m7k0z7 -
    July 16, 2021 at 8:03 am

    6:22 "You want to think of this as the oil cartel"

    Nice anaolgy

  23. dima Kurduykov
    July 16, 2021 at 8:03 am

    https://youtu.be/s45rRAyVJ9I

  24. Vedic Gyan Sagar
    July 16, 2021 at 8:03 am

    And what about Exxon chevron oil stocks?

  25. Ryan
    July 16, 2021 at 8:03 am

    Why is it so hard to turn the wells off?

  26. Gino Roustie
    July 16, 2021 at 8:03 am

    How I can buy oil commodities or contracts ????

  27. Minette Fulo
    July 16, 2021 at 8:03 am

    Very insightful, thank you😍

  28. Kevin Jordan
    July 16, 2021 at 8:03 am

    STOP TALKING TO US LIKE WE ARE IN KINDERGARTEN…
    Love your presentation…just remember we ARE NOT STUPID

  29. Todd Turk
    July 16, 2021 at 8:03 am

    Oil cartel but the price of white oil never dropped only goes up when cartel goes to war.

  30. Gobe Long
    July 16, 2021 at 8:03 am

    Tell the us government to buy more

  31. Harrison Williams
    July 16, 2021 at 8:03 am

    I would like to buy five barrels of oil at $5.00 per, and gather the know-how to make engine oil. I should be o.k. on my vehicle's oil changes for the next ten years Right!

  32. Niko Papasideris
    July 16, 2021 at 8:03 am

    I liked your vid, thanks.

  33. Kathy volpe-schaffer
    July 16, 2021 at 8:03 am

    I went to a gas station today expecting gas to cost me $00.25 / gal. Lol. But I found a station that had it for $1.85 / gal. LOL

  34. Dennis B
    July 16, 2021 at 8:03 am

    This is unbelievable,whats your take on things Ryan? Who really knows whdn this calamity will end.

  35. George Perez
    July 16, 2021 at 8:03 am

    Great insights Ryan, things are going to get CRAZY for sure! But that just means MASSIVE OPPORTUNITIES and major discounts.. I'm excited for more stocks to be on SALE!!! I'll be loading up on more shopify and even more tesla shares, I see both companies growing 3-5X over the next 5-10 years, don't miss these opportunities guys lets get it, BUY AND HODL!!! 🔥🚀🤑

  36. M1garand m1
    July 16, 2021 at 8:03 am

    talk louder kid, I am sure you can

  37. Business Interesi
    July 16, 2021 at 8:03 am

    That's really nice interactive way to learn news, thank you 🙂

  38. Wealth Insider
    July 16, 2021 at 8:03 am

    Why don't they just store those over supplied Oil at all the empty WeWork offices?!

  39. Rob Martin
    July 16, 2021 at 8:03 am

    Very well presented…

  40. Evan Erickson
    July 16, 2021 at 8:03 am

    Ok so some MLP's stock have skyrocketed today, Most are the ones with the pipelines and storage facilities. So are they making bank because of this? Or is this some kind of hype for them?

  41. Anonymous
    July 16, 2021 at 8:03 am

    Thank you for the great video! I didn't understand if and why it is technically impossible to shut an oil well completely. This seems to be the case. In a normal production facility you stop the conveyor belts once your storage is full of products.

  42. This Dude Bakes
    July 16, 2021 at 8:03 am

    Great explanation Ryan, thank you.

  43. Kyra A
    July 16, 2021 at 8:03 am

    I started investing a few weeks ago in Robinhood since I wanted to start with $30 sooo… I got uco yesterday afternoon thought of holding it till today but during after hours I received a notification saying that I no longer owned uco so that was probably the worst $2 .84 I've ever spent haha (I'm so glad I only got 2 shares) then again that basically told me that I had to get sco. And I did at 51.60 and sold it at 61.60 so I made $10 there ¯_(ツ)_/¯

  44. sultrydoll
    July 16, 2021 at 8:03 am

    Will you be doing a video or have you done a video on oil stocks to watch or buy? Thank you.