Crude oil just plunged into negative territory – with no signs of near-term recovery.
Unfortunately, it comes as no real surprise. For one, there’s far too much supply. And with the coronavirus making life “fun,” there’s no demand. In some parts of the U.S. pump prices are down to 12 cents a gallon, and nobody wants it, says Bloomberg.
Unfortunately, a 10 million barrel a day cut from OPEC won’t help much.
Goldman Sachs has eve noted oil prices would continue to fall in the coming we...
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