WTI crude oil price fell to its lowest level since 1999

In Texas in some areas supply buyers paid for a barrel of oil to $2.

Experts see this as the possibility of a situation when American manufacturers will have to pay buyers to get rid of oil, says Bloomberg. The total collapse of oil prices continues, despite the oil-producing countries announced a deal to reduce production by more than 10%.

against the background of lower demand due to pandemic 20-30 million barrels per day (b/d) decrease at 9.7 million b/d seems inadequate. Experts agree that to support the market at a fairly comfortable price level, only the removal of the quarantine restrictions in the main countries – consumers of hydrocarbons.