This is the largest energy crisis in decades and the impact on the world’s most important commodity is going to be unprecedented, says Rystad Energy’s head of oil Bjørnar Tonhaugen
Oil price war
Latest in Oil price war
crude oil output
A key oil spread points to price war erupting as supply expands
Rising output from OPEC+ and the Middle East is boosting the competitiveness of the region’s shipments, potentially forcing other suppliers to discount their barrels
Coronavirus Pandemic
Video: Why oil prices can turn negative
On April 20th, the effects of the pandemic and a price war between Saudi Arabia and Russia forced oil prices to sink below zero and into the negative territory for the first time in history.
Brent Crude
Video: OPEC agrees to 10 million barrels cuts
Russia and Saudi Arabia have called off their brutal price war and are now pushing dozens of major crude producers toward a deal that would slash production.
crude oil
Video: The link between crude oil and natural gas
If crude oil prices remain depressed for a long time, natural gas prices will continue to rise.
Brent Crude
Video: Why Saudi Arabia launched an oil price war
Oil prices had one of their biggest ever falls after the effective collapse of an agreement between Saudi Arabia-led OPEC and Russia. The agreement was designed to support the market against the impact of coronavirus.