photo source: economica.net
Posted by: trm.md
News / Economic
30 Mar. 2020 / 18:58
Coronavirus: Oil prices fall to lowest level in 18 years
Oil prices dropped to their lowest levels in 18 years on Monday as the global economy looked set to enter a coronavirus-induced recession, independent.co reports.
Brent crude, the key international oil price benchmark, plunged 6 per cent on Monday to $26.17 per barrel as countries around the world shut down swathes of their economies to halt Covid-19’s spread.
Demand has fallen by more than half in the past month as billions of people stay at home, companies cut back on production and airlines ground their fleets.