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US benchmark crude traded below $ 1 (-37.63 $) on Monday This is the first time in the history of e-commerce according to e-commerce charts oilprice .
Declining demand due to the spread of Kov 19 worldwide, travel no longer available Blocked people in homes and some auto industries have been suspended, with major oil producers leaving more oil WTI (an American oil company brand) for importers Declined to (-) minus $ 37.63 (below zero) per barrel (159 gallons) ).
Please note that crude oil for sale in the future, the WTI for June was over $ 20. One barrel of Brent crude for the European exchange was at $ 26 a barrel, but the May delivery was due to expire. By 21 April and so far beyond Order goods to be shipped out to avoid paying taxes, freight charges, or renting tankers or tankers for storage Oils.
Earlier this month, members of the Organization of Petroleum Exporting Opec and its allies agreed to a 10% reduction in oil production. Agree to cut production of 9.7 million barrels a day from May to curb excess supply due to regulation Stay indoors and closed Many companies have led to declining demand for oil.