Why did oil price drop this time?

Saint said:
Why did oil price drop this time?
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From just what I hear on news

Currently less, massive less demand

Hence storage, both in the petrol station and storage depo

Some company have bought oil years ago to be delivered later

Later has arrived, oil is delivered, no where to put it

Told to take it back

Crazy situation

Why not stop producing?

Fraught with danger, possibility unable to reopen

:)
 
Many oil producers rely on oil exports for most of their revenue. OPEC plus Russia are trying to set up quotas.
 
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