Oil prices are at their lowest levels in the past 21 years. Oil prices continued their decline after cuts in production failed to meet the impact of the
Oil prices are at their lowest levels in the past 21 years.
Oil prices continued their decline after cuts in production failed to meet the impact of the slump in demand, driven by the gradual completion of crude oil storage capacity around the world and fell to the lowest level of the past 21 years.
Futures oil contracts fell 16 percent to $ 15 a barrel in New York after the OPEC+ coalition and other producers lost a fifth of their value last week as a production cut deal failed to handle the slump in demand as the global economy suffered a standstill.