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Dictators are always going to do their thing. 2 years ago the price of oil dropped below $0. Don't believe the hype about oil policy being predictable.
by nl 4y ago
Dictators are always going to do their thing.
2 years ago the price of oil dropped below $0. Don't believe the hype about oil policy being predictable.
- Kim_Bruning 4y agoI'd love to use this datum to bash people over the head about volatile markets or so. However, the reason oil prices dropped below 0 for a short while was due to the pandemic and temporary slowdown of the economy of course. So I don't think that's indicative of long-term trends either way.
- pclmulqdq 4y agoThe drop below zero was literally predicted by experts and even in published articles weeks before it happened. However, it occurred due to the pandemic shutdowns causing a historic demand drop, and the oil currently flowing through the system had nowhere to go. In contrast, oil and electric markets are actually some of the most predictable markets that exists today. Renewables and the weather are actually the most unpredictable factors involved.