JEMTEC

At present, lock down prevails in most part of the world.As soon as lock down ends, financial markets will start afresh. Crude oil prices for the first time in history becomes US $0 per barrel. The price of WTI (West Texas Intermediate) crude futures contract of May expiry were negative US$39 per barrel on the New York Mercantile Exchange on April 20, 2020. Brent crude oil prices too followed the same track. There   were large production cut by the OPEC+ countries.But unfortunately, there stiff action does not increase the crude oil prices.   Following are the reasons for free fall in crude oil prices:   1. There is very little demand of crude oil all over the world and the supply of crude oil is very high. Moreover, there is economic uncertainty and hence there is a free fall in domestic and external demand of crude oil.   2. Global trade, both export and import, reduces to a great extent. Consequently, there is a fall in production.   3. Even OPEC+ nations, particula