Why oil dropped below zero: Covid, geopolitics & your wallet | Money With Monika

The Covid-19 pandemic recently delivered a fresh shock to the economic system even as the world has been brought to a grinding halt. Crude oil futures collapsed below zero for the first time ever with demand plunging and experts predicting the worst recession in decades. But what exactly caused this historic event? Is the Coronavirus the sole culprit, or are there other factors at play? And most importantly, what does this mean for you and your wallet? Watch as Monika Halan, consulting editor at Mint & author of the book 'Let's Talk Money', explains the entire episode.

[imsatyareddy]

The government is actually losing a lot of revenue in excise and VAT as it no one is buying petrol now.

[newreach]

You should include gst 1lakh crore per month into analysis as well.