As a result of the lockdown around the world, the price of petrol and diesel has started falling sharply. Its effects also exist in the American oil market. If prices fall like this, in the near future it may stand below zero dollars per barrel, which may be less than a bottle of water.
The capacity of US oil depots has been exceeded. And the oil can't be stored there for a fresh start. The automobile industry is almost shut down as a result of the long lockdown. In a single day in May, oil prices fell by about 90 percent. These prices are expected to fall further in the future. But it remains to be seen whether it will have an impact in India.
The capacity of US oil depots has been exceeded. And the oil can't be stored there for a fresh start. The automobile industry is almost shut down as a result of the long lockdown. In a single day in May, oil prices fell by about 90 percent. These prices are expected to fall further in the future. But it remains to be seen whether it will have an impact in India.
