The back story of what led to oil prices turning negative.

World News

The back story of what led to oil prices turning negative.

While oil prices may well have fallen dramatically during the worldwide lock down anyway, they were helped on their downward journey by two stubborn entities. #oil #oilcrash #oilprices #crudeoil

Twitter: @bisboworld

Sources

Time
Russia and Saudi Arabia’s battle royal over oil price; Ian Bremmer; Mar 30, 2020

New York Times
How Aramco’s Huge I.P.O. Fell Short of Saudi Prince’s Wish, Kate Kelly and Stanley Reed, Dec. 6, 2019
How a Saudi-Russian Standoff Sent Oil Markets Into a Frenzy, Stanley Reed, March 9, 2020
OPEC Proposes a Large Cut in Oil Output, Stanley Reed, March 5, 2020
Saudi Arabia’s Crown Prince Had Been Lying Low. That’s Over, David D. Kirkpatrick
March 9, 2020
Behind the Russia-Saudi Breakup, Calculations and Miscalculations, Andrew Higgins and Andrew E. Kramer, March 10, 2020
Oil Nations, Prodded by Trump, Reach Deal to Slash Production, April 14, 2020
Too Much Oil: How a Barrel Came to Be Worth Less Than Nothing, Stanley Reed, April 20, 2020

Reuters
U.S. to become net petroleum exporter in 2020: EIA, Devika Krishna Kumar, December 10, 2019
India may top up strategic tanks with Saudi, UAE oil, Nidhi Verma, March 17, 2020
India plans to fill strategic oil storage by the third week of May, April 14, 2020

Live Mint
Why consumers won’t gain from cheap oil, Vivek Kaul, 12 Mar 2020

Times of India
In 3 weeks, economic loss from lockdown at ₹4.8L cr, says IIT-B; Hemali.Chhapia; Apr 17, 2020
Exports dive 35%, biggest monthly drop since 1991; Apr 16, 2020

Associated Press
Oil prices shoot up as attack on Saudi facility disrupts output, September 17, 2019

https://www.americangeosciences.org/critical-issues/faq/how-much-oil-does-us-export-and-import

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