Oil drops more than 6% to 18-year low as global demand evaporates

U.S. oil dropped to an 18-year low on Monday as demand continues to evaporate, and as Saudi Arabia and other OPEC+ nations prepare to ramp up production. With much of the world in lockdown as the coronavirus pandemic rages on, demand for oil has fallen off a cliff. People aren’t travelling and business has slowed, reducing the need for jet fuel and gasoline.
Read more: https://www.cnbc.com/2020/03/30/oil-falls-to-back-to-18-year-lows-below-20-as-global-demand-evaporates.html?source=Snapzu