Coronavirus outbreak: What negative oil prices mean for the economy

The benchmark price for U.S. oil dropped below $0 on Monday for the first time in history with plummeting demand due to the coronavirus pandemic. What do dwindling oil prices mean for the world? And how can something like a barrel of oil be worth less than nothing? Aalia Adam explains.

#GlobalNews

[polarcape]

While our media is focused on the outbreak, Over seas there is conflict brewing.

[joellyos]

Anyone looking at my post can get paid $30 to take a barrel of oil off the company's hands. It will cost you $100 to dispose of / discard that barrel, but you can still get paid to take one.

[theredboneking]

Two studies by researchers associated with Stanford University and the University of Southern California have deployed antibody blood tests seeking to determine what percentage of people in two California counties have been infected with the novel coronavirus that causes COVID-19. Based on their population screening tests, the researchers estimated that 2.49 to 4.16 percent of the residents of Santa Clara County (Silicon Valley) and 2.8 to 5.6 percent of the residents of Los Angeles County have been infected.


If so, that means that the infection fatality rate—the percentage of infected people who will die of the disease—is somewhere between 0.12 and 0.2 percent in Santa Clara County and between 0.1 percent and 0.3 percent in Los Angeles County. The infection mortality rate for seasonal flu hovers around 0.1 percent.

[bilalahmed]

Why are we still paying upwards of 80 cents a litre in the GTA ?

[OldSchoolNoe]

April 20, 2020 when we first saw it hit -$35. Honestly guys, only good WILL come out of this situation in the coming months.

[lplt]

if only canada used the oil the produce for they citizens, and when trouble arises you dont think to change to newer sustainable energies. So much greed, go electric

[cryptobunny]

Buying those $1000 contracts oil barrels going to show up at your door 😂

[ambientaddict]

Greed. The rich are being effected and they dont want that. They want middle-class people to suffer, not them. It's like watching a fat kid freakout because he has to eat vegetables, and share his junk food.

[leannegee]

Let people work allover world. Dont isolate