As I'm sure you're well aware, the price of oil saw some major fluctuations a few weeks back... going "negative." It became headline news. How does one of the most valuable commodities in the world go negative? In other words, at one point, people were paying to store oil. Due to COVID-19, demand for oil has dropped significantly because we simply aren't going anywhere.
There are a lot of moving pieces here. We have demand, supply, storage, a pandemic, and then the relationship between the three largest producers of oil - The United States, Saudi Arabia, and Russia.
In today's episode we're learning everything we need to know to make sense of all of this. I speak with Kartik Misra, an energy investor for one of the largest Family Offices in the US. We learn:
Why the price of oil went negative, and what that means.
What is happening to all the oil that is not being consumed.
What's the relationship between the US, Saudi Arabia and Russia when it comes to the production of oil.
How COVID is affecting the consumption of oil, and how that affects us as consumers.
What's the future of this industry and all the jobs it affects.
I hope you find it just as informative. If you did, please feel free to share it. Stay safe out there!
Mesh
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The Price of a Pandemic: Where Did All the Oil Go? | Talk Money podcast - Listen or read transcript on Metacast
