CRUDE OIL PLUMBS DEPTHS AS DEMAND CRASHES DURING COVID
BIG OIL MIGHT FARE BETTER THAN STATE-OWNED COMPANIES
2020-04-21 10:49
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Crude oil, once used to be called liquid gold, is plumbing the depths only The Economist had dared to predict. The Economist, London-based magazine founded by 19th century most prominent public intellectual, Walter Bagehot, had written that oil price would slump to $5 per barrel. After that, oil price had often shot through the roof and it was inconceivable that oil should ever be cheap in the heydays of global capitalism.