From an investor's perspective, volatility in the financial markets has never been so high. On the other hand, from the consumer point of view, prices did not change so dramatically in such a short time before. Where do the paths of investors and consumers cross? This usually takes place on the commodity market, and the most important raw material is, of course, crude oil and its processed products.
From negative prices to nearly $ 100 a barrel
The arrival of COVID-19 has led to unprecedented anomalies in the oil market. At one point, the price of a barrel of oil dropped significantly below zero. Due to restrictions around the world, many people have stopped traveling, flying or even going to shops. At one point, crude oil demand fell by as much as 1/3, or roughly 30 million barrels a day. Due to the huge disproportion between supply and demand, the organization of oil-exporting countries, i.e. OPEC, together with other important countries, decided to jointly limit production in orde