How low can it go? The collapse of crude oil prices

With the global economy grinding to a sudden halt because of the Covid-19 pandemic, oil prices going through the floor with suppliers fast running out of room to store the stuff. That’s terrible news for oil producers the world over, particularly in countries who rely on hydrocarbon handouts to keep regimes afloat. But if you’re dreaming of free fill-ups, don’t hold your breath. It might not be such great news either for cash-strapped consumers: for one, much of the price at the pump is tax and it will only fall so much. Also, what if it shoots back up again just as suddenly? How much of a disruption will that be? If that happens, what of French president Emmanuel Macron’s prediction last week that after this crisis, people will no longer accept breathing smog-filled air? What will it take to turn this crisis into an opportunity to speed up a successful and orderly energy transition away from fossil fuels?

Subscribe to France 24 now: https://f24.my/YouTubeEN
FRANCE 24 live news stream: all the latest news 24/7
https://f24.my/YTliveEN

Visit our website: https://www.france24.com
Like us on Facebook: https://www.facebook.com/FRANCE24.English
Follow us on Twitter: https://twitter.com/France24_en

In This Story: COVID-19

Covid-19 is the official WHO name given to the novel coronavirus which broke out in late 2019 and began to spread in the early months of 2020.

Symptoms of coronavirus

The main symptoms of coronavirus are:

  • a persistent new cough (non productive, dry)
  • a high temperature (e.g. head feels warm to the touch)
  • shortness of breath (if this is abnormal for the individual, or increased)

Latest News about Covid-19

Below are stories from around the globe related to the 2020 outbreak of novel Coronavirus – since the WHO gave the Covid-19 naming. Most recent items are posted nearest the top.

5 Recent Items: COVID-19

  • BTS , UNICEF & More : COVID-19 Crisis: Mitigating the Impact and Protecting Future Generations
  • Coronavirus: British bars, pubs adapt to new COVID-19 rules
  • Coronavirus: Alberta’s top doctor gives advice for safe Thanksgiving as 158 new cases reported
  • Coronavirus: BC reports 148 new COVID-19 cases, two new deaths, 30 school exposures | FULL
  • LIVE: Why Minneapolis Police Traffic Stops Have Plummeted Since George Floyd’s Death
  • Leave a Comment