Kim Jun-woo looked at Park Jin-hyuk with concern.
"What's wrong? Do you think it's wrong?"
Park Jin Hyuk turned to Han Ji Yeon and asked:
"Do you think my decision is wrong?"
"Team Leader Jin seems to have concerns. Would you like to reconsider?"
"No need to think about it anymore. Don't worry, my decision is fine, Team Leader Jin..."
"yes."
"Immediately tell President Guo my decision. Whether it's 50 million barrels or 100 million barrels, we'll take it. Also, tell him to tell Aramco that we're not accepting money and are instead accepting crude oil out of consideration for Aramco."
"I understand. I'll tell President Guo right away."
Seeing that the boss was so determined, Jin Junyu agreed and walked out.
Han Ji-yeon asked carefully:
“Wouldn’t it be safer to just take the money?”
"Logically, they should pay me. I'm doing this for the long term. Business can't just be about money."
"Yeah, that makes sense."
Han Ji-yeon nodded.
"We'll have to deal with each other in the future, right?"
"Yes, as long as you are in this industry, it is impossible not to deal with Aramco. Instead of taking things to the extreme, it is better to take a step back and see the bigger picture."
Park Jin Hyuk looked up and saw that the oil price had fallen to $0.01.
In the market, there are still buyers who continue to buy because everyone believes that it is impossible for the price to fall further.
Han Ji-yeon says:
"People are still buying. How will the oil price change?"
“It will continue to fall.”
Park Jin Hyuk said word by word.
“Will it continue to fall?”
"I believe there will be news tomorrow saying DS Energy is going bankrupt."
"ah?"
"It doesn't matter, I will invest money in it..."
Han Ji-yeon looked at Park Jin-hyuk in confusion, not understanding what he meant.
And at this moment, the price of oil really fell below $0.01, showing a negative price.
Faced with this situation, everyone at the futures trading site showed an expression of disbelief.
The studio was in chaos, and the host shouted:
"Negative oil prices! Now it's minus $2?"
“.......Please confirm, is the price displayed correct?”
"Director..."
At this time, Kim Jun-woo walked in and handed the phone to Park Jin-hyuk.
"It's DS Securities President Jung Chan-yong."
"I'm waiting for his call."
Having said that, Park Jin Hyuk took the phone.
"Director, I'm Zheng Zanyong. You're right, oil prices have indeed turned negative."
"yes."
"According to your instructions, we made the corresponding preparations, so there were no problems with the system. However, I heard that other domestic securities companies were in chaos."
"They should have received official documents from abroad, right?"
"Everyone thinks it's unlikely, so we take it seriously. After all, adjusting the system requires investment of money and manpower."
Since the concept of futures was born, negative prices have never appeared. This is the first time in history. Therefore, even after receiving the official document from the Chicago Mercantile Exchange, no one took it seriously.
Park Jin Hyuk hung up the phone.
Han Ji-yeon asked:
“The current price is -$12, so does that mean -$100 or -$1,000 is also possible?”
"In theory, yes."
"President Zheng didn't even think about negative prices. How did you know about this?"
"There's an old poem that goes, 'I cannot see the true face of Mount Lu because I am inside it.' They are all in the game, but I am outside, so I can see it more clearly."
Park Jin Hyuk said cryptically.
Han Ji-yeon seemed to understand and wanted to ask more questions, but Jin Junyu walked in again.
"Director, President Kim Dong-seok of DS Energy wants to meet you."
"How about this, you notify the presidents of the relevant subsidiaries to come to the company for a meeting."
The time now is 11 o'clock at night.
"It's so late, and you still want to hold a meeting? Aren't you afraid that everyone will have opinions?"
Han Ji-yeon said.
"I won't have any objections. I believe everyone will have trouble sleeping tonight."
As Park Jin Hyuk expected, at exactly 12 o'clock in the middle of the night, the presidents of all the subsidiaries under Park Jin Hyuk came to the conference room at the headquarters.
After sending Han Ji-yeon away, Park Jin-hyuk walked towards the meeting room.
This was the first presidents' meeting held after the establishment of the new business strategy office.
Park Jin Hyuk entered the meeting room, nodded to everyone, and sat down in his seat.
From this moment on, Park Jin Hyuk was responsible for the success or failure of the entire group, so he felt that the responsibility on his shoulders was very heavy. He said:
"First, please allow President Zheng Zanyong to introduce the current situation."
DS Securities President Zheng Zanyong stood up.
"As crude oil prices continue to fall, West Texas Intermediate crude oil has fallen to -$20 two hours ago. If energy futures rise or fall by 15% within 60 minutes, futures trading will be suspended for two minutes. However, even if this buffer is triggered, it still cannot stop the decline of crude oil."
Having said that, he looked around at everyone.
"We expect the downward trend to continue."
“What’s the reason for continuing?”
Park Jin Hyuk is not sure whether the market will continue to fall in the future.
"I've reported to you that we're the only company in China that has adjusted its systems to cope with negative prices. I believe no more than 1% of companies worldwide have made corresponding preparations. As a result, some companies' systems have experienced major vulnerabilities."
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