I believe the reason the price for this type of crude is so low is because it is a very low quality product, which means the refinery has to spend a lot of mone

I believe the reason the price for this type of crude is so low is because it is a very low quality product, which means the refinery has to spend a lot of money refining it in exchange for not very much yield. At the same time, the oil well cannot just simply store the oil or stop producing the oil-- there are costs and risks associated with both options. I think crude completely degrades after 2 years of storage. So, there's a chance you might temporarily see negative prices, which is the oil well basically saying "we'll pay you to get this stuff out of here".