I pulled up the WTI chart and was shocked to see that oil crashed below $17 in April 2020.
Was that the same time period when OPEC and the Russians conspired to drive USA frackers out of the oil business?
If it was, I had completely forgotten that Covid was raging at the same time.
“Was that the same time period when OPEC and the Russians conspired to drive USA frackers out of the oil business?”
Nice reminding everyone how Russia tried to destroy America”s oil and gas industry. F THEM!!
I think it was both things. Covid killed a LOT of demand.