Coronavirus: How badly is Covid-19 disrupting the oil industry in the US and beyond?

South China Morning Post
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Published on Apr 23, 2020

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The global oil industry was already volatile before the coronavirus pandemic started, but now it faces its biggest challenge in recent memory. In late April 2020, oil prices plunged to the point where it now costs producers money to store a glut of the commodity in facilities that are running out of space. While investors in the oil market have seen huge losses, how will the price plunge affect the average person? John Carter, Senior Editor with the Political Economy team at the South China Morning Post sheds some light on the situation.

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