For the first time, the price of a barrel of oil, knows a series of so-called "negative" prices, up to -37 $. There is no doubt that this crisis situation is due to the Covid-19 pandemic, which has caused demand to fall to 30%.

Moreover, the price war between Saudi Arabia and Russia by increasing their production in order to gain more market share has not improved the situation.

However, while the Russians and Saudis kept the price of a barrel at a level acceptable to them, the Americans increased their production.

This competition between producers does not respect the law of the market, because the world produces much more oil than it consumes, so the price of a barrel has collapsed, informs lemonde.fr.