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    • Fears about the rapid spread of COVID-19

      • Oil prices plunged in the spring of 2020 in response to fears about the rapid spread of COVID-19. This triggered a shock to global economic demand amid the backdrop of an escalating oil price war between Russia and Saudi Arabia, two major oil producers.
      www.investopedia.com/articles/investing/100615/will-oil-prices-go-2017.asp

      What Happened to Oil Prices in 2020 - Investopedia

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  3. www.investopedia.com › will-oil-prices-go-2017What Happened to Oil Prices in 2020 - Investopedia

    Feb 22, 2022 · By the summer of 2020, oil prices began to rebound as nations emerged from lockdowns and the Organization of the Petroleum Exporting Countries (OPEC) agreed to major cuts in crude oil production.

  4. www.cer-rec.gc.ca › en › data-analysisMarket Snapshot: How does the early 2020 crude oil price drop ...

    Mar 25, 2020 · Release date: 2020-03-25. As of Friday 20 March 2020, the spot price for West Texas Intermediate (WTI) crude oil decreased by 65% from its price on 6 January 2020. Over the same time period, the price for Western Canadian Select (WCS) crude oil in Alberta fell by 72% from US$40 per barrel (US$/bbl) to US$11/bbl.

  5. www.eia.gov › todayinenergy › detailU.S. crude oil production fell by 8% in 2020, the largest ...

    Mar 9, 2021 · In January 2020, U.S. crude oil production reached a peak of 12.8 million b/d. In March 2020, crude oil prices decreased because of the sudden drop in petroleum demand that resulted from the global response to the coronavirus (COVID-19) pandemic.

  6. www.weforum.org › agenda › 2020How does the drop in oil demand compare to previous global ...

    Coronavirus travel bans have led to an unprecedented drop in demand for oil, according to the World Bank. Demand is expected to fall by 9.3 million barrels a day. Prices have fallen sharply, and below zero in some cases.

  7. www.marketwatch.com › story › oil-prices-wentOil prices went negative a year ago: Here's what traders have ...

    Apr 19, 2021 · Read: Why oil prices crashed into negative territory — 4 things investors need to know. Seeing prices turning negative, in part due to a “storage risk,” which Rystad Energy and others had ...

    • mpicache@marketwatch.com

  8. financialpost.com › commodities › energyDonald Trump's oil deal: The inside story of how the price ...

    Apr 13, 2020 · He’s gone from welcoming the crude price collapse to worrying about losing the American energy industry. Fearing that job losses in Texas and other oil-rich states could hurt his re-election prospects, he convinced Putin and the Saudi monarch to end hostilities and make a compromise.

  9. www.statista.com › statistics › 466293Lowest crude oil prices due to COVID-19 2020 | Statista

    Apr 29, 2024 · On April 20th, 2020, the price of West Texas Intermediate crude oil slumped into negative for the first time in history, falling to negative 37.63 U.S. dollars per barrel. The ongoing...