Oil industry still recovering 1 year after commodity's historic freefall into negative pricing territory
newscatcher
2021-04-21 04:30
Oil industry still recovering 1 year after commodity's historic freefall into negative pricing territory
A COVID-19 catchphrase that has emerged during this prolonged pandemic seems to be applicable to the current state of Alberta's oil sector: 'Things may look a little bit different this year.'Tuesday marked the one-year anniversary of a startlingly swift and unprecedented slide for oil prices.On April 20, 2020, U.S. crude oil futures turned negative for the first time in history. Analysts have said the development was driven in part by the sudden drop in demand for the commodity because of the COVID-19 pandemic, as well as by a price war between Russia and Saudi Arabia.

https://globalnews.ca/news/7776111/oil-prices-covid-pandemic-negative-anniversary/

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