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During the first three months of the year, the price of oil has plummeted by more than 60%. At the time of making this video, the price of crude oil was at the same level as in 2002. This steep fall has had much to do with the crisis unleashed by SARS-CoV-2. A virus that is turning much of the world’s streets into something resembling the set for the film “I am Legend” starring Will Smith.
At this very moment in many countries around the world, mandatory quarantines are in place that are confining entire populations to their homes.
And obviously, all this is a major blow to economic activity and therefore also to energy demand. But is coronavirus the only reason for the brutal fall in the price of oil?
In this video, we will tell you a story that has all the makings of an international bestseller: Russia, Saudi Arabia, the White House, and a global pandemic.
Have you heard about the new oil war? Watch this video.
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