- Wealth PMS
Oil is the one commodity which impacts every consumer across the world. But something astonishing happened with oil in last couple of weeks. Oil prices went into a deep negative zone and traded at MINUS $37 per barrel in April 2020.
That means, effectively you paid someone $37 to take oil from you! So What Really Happened to Oil ? The Covid impact has meant that oil demand has fallen to a dramatic low.The OPEC+ countries agreed to a historic 9.7 million barrel per day production cut. According to