“Today, we are probably in the most active stage of reducing global oil demand,” the minister quotes RIA Novosti.
According to various estimates, he noted, "this decline is currently from 20 to 30 million barrels per day."
The cost of May futures for WTI crude oil during trading on April 20 first fell to the dollar per barrel, and then became negative, reaching minus $ 40.
As Novak noted, the collapse of WTI quotes occurred in connection with the sale of futures for delivery in May, as well as the lack of demand.