{"id":6663,"date":"2020-04-21T08:27:55","date_gmt":"2020-04-21T00:27:55","guid":{"rendered":"https:\/\/sg.everydayonsales.com\/news\/?p=6663"},"modified":"2020-04-21T09:00:13","modified_gmt":"2020-04-21T01:00:13","slug":"wow-oil-price-crash-below-0-due-amid-covid-19-they-want-to-pay-you-to-take-the-oil-away","status":"publish","type":"post","link":"https:\/\/sg.everydayonsales.com\/news\/6663\/wow-oil-price-crash-below-0-due-amid-covid-19-they-want-to-pay-you-to-take-the-oil-away\/","title":{"rendered":"Wow! Oil Price Crash Below $0 Due Amid Covid-19? They Want To Pay You To Take The Oil Away!"},"content":{"rendered":"<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-6664\" src=\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2020\/04\/Wow-Oil-Price-Crash-Below-0-Due-Amid-Covid-19-They-Want-To-Pay-You-To-Take-The-Oil-Away.jpg\" alt=\"\" width=\"1200\" height=\"628\" srcset=\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2020\/04\/Wow-Oil-Price-Crash-Below-0-Due-Amid-Covid-19-They-Want-To-Pay-You-To-Take-The-Oil-Away.jpg 1200w, https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2020\/04\/Wow-Oil-Price-Crash-Below-0-Due-Amid-Covid-19-They-Want-To-Pay-You-To-Take-The-Oil-Away-300x157.jpg 300w, https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2020\/04\/Wow-Oil-Price-Crash-Below-0-Due-Amid-Covid-19-They-Want-To-Pay-You-To-Take-The-Oil-Away-1024x536.jpg 1024w, https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2020\/04\/Wow-Oil-Price-Crash-Below-0-Due-Amid-Covid-19-They-Want-To-Pay-You-To-Take-The-Oil-Away-768x402.jpg 768w, https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2020\/04\/Wow-Oil-Price-Crash-Below-0-Due-Amid-Covid-19-They-Want-To-Pay-You-To-Take-The-Oil-Away-1170x612.jpg 1170w, https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2020\/04\/Wow-Oil-Price-Crash-Below-0-Due-Amid-Covid-19-They-Want-To-Pay-You-To-Take-The-Oil-Away-585x306.jpg 585w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/>For the first time ever in history , US oil prices crash into negative territory as country struggles with coronavirus. Yes you are reading it right! It&#8217;s negative. They are paying you to take the oil away!<\/p>\n<p>Yesterday past midnight (GMT+8) on Tuesday (21 Apr), oil barrels traded for crazy prices of under US$0\/barrel, as demand waned despite <a href=\"https:\/\/thehill.com\/opinion\/energy-environment\/493614-the-world-can-thank-president-trump-for-the-oil-deal\" target=\"_blank\" rel=\"noopener noreferrer\">President Trump\u2019s attempt to barter a new deal with OPEC<\/a>.<\/p>\n<p>As prices continued to plummet, the lowest recorded figure was -US$37.63\/barrel (S$53.48\/barrel), reports\u00a0<a href=\"https:\/\/edition.cnn.com\/2020\/04\/20\/investing\/premarket-stocks-trading\/index.html\" target=\"_blank\" rel=\"noopener noreferrer\">CNN<\/a>. People are paying you $53.48\/barrel to take them away!<\/p>\n<p>So if you&#8217;re wondering, why the oil price suddenly drop? With the lockdown in US, <a class=\"thirstylink\" target=\"_blank\" title=\"Expedia\" href=\"https:\/\/sg.everydayonsales.com\/news\/go\/expedia\/\" data-nojs=\"1\" data-shortcode=\"true\">travel<\/a> is limited and more and more people stay home. With this the demand for oil is reduced. And due demand shortage,\u00a0 the oil storage companies have no space (&amp; limited resources) to store oil, hence they are willing to pay someone else to take it from them.<\/p>\n<p>This Covid-19 pandemic has really brought a new horizon where this is unprecedented and nobody have seen this before.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>For the first time ever in history , US oil prices crash into negative&hellip;<\/p>\n","protected":false},"author":2,"featured_media":6664,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[65],"tags":[807],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Wow! Oil Price Crash Below $0 Due Amid Covid-19? They Want To Pay You To Take The Oil Away! - Singapore EverydayOnSales News<\/title>\n<meta name=\"description\" content=\"Wow! Oil Price Crash Below $0 Due Amid Covid-19? 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