Category: Commodities & Energy
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Oil Goes Negative: The Day WTI Crude Hit -$37
Oil settles at negative $37.63 per barrel for the first time in history as pandemic demand destruction, a Russia-Saudi price war, and storage exhaustion at Cushing collide in a moment the commodity market had never contemplated.
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The Russia-Saudi Oil Price War: When OPEC+ Fell Apart
Khan Capital | April 2020 Key Takeaways The Russia-Saudi Oil Price War: When Allies Become Adversaries On 6 March 2020, the OPEC+ alliance that had managed global oil supply since 2016 disintegrated in a single afternoon in Vienna. Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, had proposed an additional 1.5 million barrel per day…