After 92 Years, Exxon Dropped From Dow Jones

[BumRushDaShow]

8. "'Below $0 per barrel"??'" - you missed the big thread on that

I think the lowest was something like -$37/bbl (contract).

https://www.democraticunderground.com/100213319463

What it supposedly meant was that the sellers were offering to PAY people to buy due to the glut (and no place to store it). This was the fallout of the Saudi-Russia "oil war" where they were competing with each other to see who could produce and dump the most on the market, AND doing that in the midst of a pandemic (when far fewer were using oil/gasoline due to lockdowns). And as a side-effect, it would help to kill (punish) the U.S. oil production market.

As a sidenote, "Exxon" was originally "Esso" (a name still used in Canada and other places) for almost half of its life on the Dow.