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23.04.2020 / 14:13

What do negative oil prices mean for Alberta and Canada’s economy?

The novel coronavirus pandemic has ushered in many “firsts” in modern economic history. That includes the impact on the oil market, where the benchmark price for U.S. oil dipped below $0 on Monday for the first time ever.

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Stocks drop as U.S. crude oil futures prices turn negative for the first time in history

Wall Street fell sharply on Monday after U.S. crude oil futures turned negative for the first time in history, underscoring the chaos the coronavirus pandemic has unleashed on the global economy.

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US oil prices turn negative for first time

Oil prices ended New York trading in the negative for the first time, as a supply glut forced traders to pay others to take the commodity.

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U.S. oil prices tumble to 20-year low, threatening stock rally

Caution recaptured world markets on Monday as a near 30% drubbing for U.S. WTI crude oil kicked off a busy week of data and earnings that will drive home the damage being inflicted by global coronavirus lockdowns.

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Producers advised to spend nothing on drilling as oil price hovers at US$25 amid COVID-19 pandemic

World oil prices have fallen so low that producers in Canada are being advised not to spend any money on drilling and, in some cases, to stop producing crude oil from existing wells.

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COVID-19

United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

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Covid-19.rehab - the latest news concerning the spread of the SARS-CoV-2 coronavirus (formerly 2019-nCoV), as well as the infectious disease that it causes COVID-19, in separate countries and in the world as a whole. Current news on the topic of coronavirus SARS-CoV-2. Quarantine, pandemic 2020, epidemic: what is it, when will it come to end, precautions and how to protect yourself from this disease. The most honest news, no fakes! To keep up with the latest news, stay tuned for updates on the site! Every day we will collect news and statistics on coronavirus from around the world for you to be aware of this topic.

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