Falling Oil Prices Amid Coronavirus Pandemic: What It Means for India and Other Players

Forget the sub-zero oil price (futures) shock that upended all our notions of the geopolitics of oil and prompted commodities exchanges to incorporate negative pricing in their software. Instead, follow the progress of Awtad, Jana, Aslaf and Lulu as they head to the United States. These supertankers, carrying 2 million barrels of crude oil each, are currently steaming their way to the US to dump their oil. They are among the first of a veritable armada of supertankers, with a total of almost 40 million barrels, which are expected to land in the US through May and June. This is what might affect the geopolitics of oil, and could be the logical tipping point for the world. Read More…