Oil prices slump as market faces lowest demand in 25 years

Global oil prices have slumped as traders judge that plans for the biggest production cuts in history will fail to offset the deepest fall in demand in 25 years.

To clarify, 25 years ago, 1995, the demand for oil in March was lower than it has been for last March when flights have been grounded, travel is suspended and practically the entire world is in lockdown? That makes absolutely no sense.

Cost me $10.50 to fill my tank yesterday

Time to buy.

I guess that Donald will be back to taking credit for lower prices at the pump again.

I bet there are fewer cars on the roads today than there were in the 60s

Every where is lockdown

Ok...so when everyones strapped for cash, oil is used more hence being more scarce and thus extremely expensive. When theres hardly any demand for oil , and its plentiful its cheap? Sounds like weve been took for a ride...

At least Mother Earth is getting a chance to breath for a micro second before our elected super brains go about destroying it again in the name of Jobs & of course PROFIT.

Nice to see the investment our government made from our taxes, to invade Libya and iraq, is paying off

This is not just a little problem, we are facing multiple serious financial problems

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil sinks again as investors fret about economic cost of Covid-19 - business liveRolling coverage of the latest economic and financial news Oil is not good for health bad chelostral Really worried that the current gov don’t have what it takes to reimagine the economy. Does a 35% drop in GDP matter? Debt as 100% of GDP (as forecast by OBR)? Tory economics - we’ll need to tighten our belts But why? Rest of world in same situation. Where has the money gone?
Source: The Guardian - 🏆 84. / 53 Read more »

Olive oil industry under increasing threat from 'olive leprosy'Italian, Spanish and Greek farmers set to lose billions unless drastic action is taken to combat bacterium that has killed millions of trees BREAKING :- World‘s 1st coronavirus vaccine has been approved in...COVID2019 OMG have we got the vaccine being developed, test kits on order and massive order of PPE ! Quarantine the growers.
Source: The Guardian - 🏆 84. / 53 Read more »