US oil prices have dropped to their lowest level in decades as concerns over coronavirus eclipsed a deal to cut output. The May Futures for the benchmark fell to less than $1 a barrel. Global demand has plummeted due to lockdowns and travel restrictions. Early last month, major oil producers met in Vienna to figure out how to keep prices stable
Monday, April 20, 2020
US oil futures drop below $0 for the first time
US oil prices have dropped to their lowest level in decades as concerns over coronavirus eclipsed a deal to cut output. The May Futures for the benchmark fell to less than $1 a barrel. Global demand has plummeted due to lockdowns and travel restrictions. Early last month, major oil producers met in Vienna to figure out how to keep prices stable
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