What negative oil prices mean for the COVID-19 economy
There was a worldwide shock when U.S. ended with negative oil prices for May contracts. It dropped to minus 38 dollars a barrel this week, crashing into negative territory for the first time in history. While demand has dried up as the COVID-19 pandemic paralyzes economies and keeps people at home,… excess supply is in limbo not helped by an intense price war between Russia and Saudi Arabia. What do these ultra-low oil prices mean for producers and what does it tell us about the world economy as it grapples with the coronavirus? Today, we’re joined