As oil being one of the world’s key commodities, the coronavirus pandemic has however brought the fuel industry to its knees. On Monday, oil prices plunged into the negative territory. This meant that producers ended up paying buyers more than 30 U.S. dollars a barrel to get oil off their hands. Oil prices had an uptick on Tuesday, but to lift the market, the Trump administration is eyeing stopping oil shipments from Saudi Arabia. What does this mean for the global economy?
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