OPINION

Slugcatcher on the true story of the 2020 negative oil price

NO-ONE in the oil industry will forget the day in 2020 when the price of crude appeared to do the impossible and drop below zero, but what they might not know is the cause which from Slugcatcher’s latest reading appears to have been just another exercise in market rigging.

Slugcatcher
Slugcatcher on the true story of the 2020 negative oil price

The famous fall, which was restricted to a contract covering West Texas Intermediate oil in the US, produced a price of minus US$38.45 a barrel, sparking global confusion because it theoretically meant...

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