Oil is normally a fungible commodity product(with refinery limitations based on the type of crude). Perhaps that plays a role in the large discrepancy between other oil prices. Or the large drop in demand in the locales it serves.

I believe the reason the price for this type of crude is so low is because it is a very low quality product, which means the refinery has to spend a lot of money refining it in exchange for not very much yield.

At the same time, the oil well cannot just simply store the oil or stop producing the oil-- there are costs and risks associated with both options. I think crude completely degrades after 2 years of storage.

So, there's a chance you might temporarily see negative prices, which is the oil well basically saying "we'll pay you to get this stuff out of here".