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Why oil prices plunged, and its impact on India
Автор: The Hindu
Загружено: 2020-04-22
Просмотров: 20007
Описание:
US oil prices tumbled into negative territory for the first time in history. The price of a barrel of benchmark U.S. oil plunged below $0 a barrel.
May U.S. crude futures plunged to a depth never before seen, settling on the day at minus $37.63 a barrel. This is a decline of around 305%, or $55.90 a barrel.
This is being seen as a troubling sign of an unprecedented global energy glut because of the coronavirus pandemic.
How did this happen? And what does this mean for India?
Read more here: https://www.thehindu.com/business/exp...
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