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Price of oil at an all-time low

by Futures Centre, Apr 28
1 minute read

US oil prices fell below $0 per barrel this month, a record low brought about by reduced demand combined with limited ability of producers to store excess. Other oil-producing countries, including Saudi Arabia and Russia, have made a deal agreeing to the deepest production cut ever negotiated, which still isn’t expected to resolve excess supply.

So what?

Will the reduced profitability of oil creates a greater incentive to invest in cleaner or renewable energy? Or, will low prices discourage the investment in fossil-fuel alternatives and slow the transition to clean or renewable energy.

Signal spotter: Alisha Bhagat

Photo by sippakorn yamkasikorn on Unsplash

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