In the coming days, the price of petrol will be zero After 10 days, refineries will not have the capacity to store oil, after which the price of petrol can go negative, claims Sami Ibrahim.

In the coming days, the price of petrol will be zero
After 10 days, refineries will not have the capacity to store oil, after which the price of petrol can go negative, claims Sami Ibrahim.
04 April 2020) Leading journalist Sami Ibrahim says that the government reduced the price of petrol by Rs 15 per liter. But it should have been further reduced. He added that the price of oil is $ 20 a barrel. The price of petrol in Pakistan should have been Rs 80 per liter. The government said that when global oil prices fall, we will further reduce.
But on the basis of which the price of oil is falling, now it seems that the price of oil will go to zero, but the oil will be negative because when the oil comes out and it goes to the refinery there is no need to store the oil. There is a limit of storage capacity. Storage capacity in the world's oil refineries is running out. Oil refineries will not be stored in the oil refineries ten days from today.

Which means that refineries have not been bought oil. When there is no buyer, the price of oil will go negative. So far this has not happened in the world. Sami Ibrahim added that if the government works honestly, Pakistan The price of oil will be Rs 60 per liter, no matter the dollar value. We have not seen such a drop in oil prices to date.
Watch the video for more details:

However, Russia, on the other hand, has agreed to cooperate with Saudi Arabia and the United States to reduce crude oil production. Russian President Vladimir Putin has said that Russia is ready to cooperate with Saudi Arabia and the United States in reducing crude oil production, adding that Russia has already begun its agreements for agreements under the Consent has been expressed, he added, adding that I believe in joint efforts to balance the oil market and reduce production.