Various reports hit the news feeds
today quoting a deliberately headline-grabbing statement by Paul Sankey,
managing director at Mizuho Securities, in which he is reported as
saying, “Oil prices can go negative.” That
is, they could as a combination of Saudi Arabia (and Russia) flooding
the market with increased oil and the market running headlong into
COVID-19-induced curtailment of activity that is suppressing
consumption, which combined will create the perfect storm of excess
supply.
https://oilprice.com/Energy/Energy-General/What-Happens-If-Oil-Prices-Go-Negative.html
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