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This thread is mainly for the Global Recession that will soon become a Global Depression.
Oil price decline started with a price war between Opec and Russia, but now the Recession and shutdowns are dog piling.
A barrel of oil is now cheaper than a pint of beer in Canada
KEY POINTS
Oil price decline started with a price war between Opec and Russia, but now the Recession and shutdowns are dog piling.
A barrel of oil is now cheaper than a pint of beer in Canada
KEY POINTS
- A pint of good beer up in Canada will probably cost you about $5 bucks. You can now get a barrel of oil for less than that.
- The price of Western Canada Select (WCS) is being quoted at $4.18 per barrel, making it cheaper than beer.
- WCS is a much heavier blend and trades at a discount to U.S. West Texas Intermediate crude, but $4 dollar oil is incredible nonetheless.