events
For the first time in history, oil prices drop below zero, an effect of the 2020 Russia-Saudi Arabia oil price war.
Related Wikipedia articles
Price of oil
Spot price of a barrel of benchmark crude oil
The price of oil, or the oil price, generally refers to the spot price of a barrel of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals…Source: Wikipedia (CC BY-SA)
Negative pricing
Prices below zero
In economics, negative pricing can occur when demand for a product drops or supply increases to an extent that owners or suppliers are prepared to pay others to accept it, in effect setting the price to a negative number. This can happen because it costs money to transport,…Source: Wikipedia (CC BY-SA)
2020 Russia–Saudi Arabia oil price war
2020 oil price war between Russia and Saudi Arabia
On 8 March 2020, Saudi Arabia initiated a price war on oil with Russia, which facilitated a 65% quarterly fall in the price of oil. The price war was triggered by a break-up in dialogue between the Organization of the Petroleum Exporting Countries (OPEC) and Russia over proposed…Source: Wikipedia (CC BY-SA)
April 20
Day of the year
April 20 is the 110th day of the year in the Gregorian calendar; 255 days remain until the end of the year.Source: Wikipedia (CC BY-SA)