Main content

Oil price collapses to 18-year low

Plunging demand, surging supply, and strained storage capacity have put so much downward pressure on oil prices that US shale producers are now producing at a loss.

US crude oil prices fell below $20 a barrel on Monday, close to their lowest level in 18 years, as traders bet production would have to shut to prevent a glut in the markets. The situation is particularly bleak for high-cost wells in the world's largest producer: the US. We talk to Ellen Wald, from the Atlantic Council, in Florida, and Tom Adshead, a director of Macro Advisory in Moscow. Meanwhile, the Coronavirus outbreak has caused a rather startling change in fish consumption in Kenya. Instead of importing stocks from China, Kenyans have refound their taste for local catches, boosting incomes within the industry. And what do you do when you're in lock down? We interview David Shearer, who runs the UK puzzle exchange. He's seeing a resurgence in demand for jigsaws! (Picture description: Woman on a street in Moscow walks past live oil prices, showing the plunge due to Covid-19. Picture credit: Getty Images)

Available now

53 minutes

Last on

Tue 31 Mar 2020 00:06GMT

Broadcast

  • Tue 31 Mar 2020 00:06GMT

What makes a good short film?

What makes a good short film?

The directors of the films nominated for a 2018 Academy Award for Best Short Documentary

Download the Podcast

Download the Podcast

Listen to the latest editions of the Business Matters podcast

Life in Israel and the Palestinian Territories

Life in Israel and the Palestinian Territories

The difficulties of working where the threat of conflict is part of everyday life

Podcast