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Over 40 percent with fewer people driving flying or shipping this combined with an excess in Global Oil Production has greatly contributed to the falling market just we have never seen anything like this and of course its a consequence of the pandemic which will eventually and still Oil Production production had already outpaced our need for it so where do you see the oil industry going from here is this a wake up call for it. Well you need to let me take you back in time 1st lets go back to the end of the vietnam war when the war ended in vietnam we had plenty of gas we were supporting the war machine war machines require huge amounts of gasoline and oil yet when the vietnam war ended what happened there was an oil shortage how could there possibly be an oil shortage when the war is ended and were using the last were now using the less well they held it back they crea ....
A delivery would have actually been paid to accept it rather than paying to buy it to better understand this lets look at the most widely followed Oil Futures Contract in the United States west texas intermediate crude its june contracts fell over 40 percent with fewer people driving flying or shipping this combined with an excess in Global Oil Production has greatly contributed to the falling market just we have never seen anything like this and of course its a consequence of the pandemic which will eventually and still Oil Production production had already outpaced our need for it so where do you see the oil industry going from here is this a wake up call for it. Well you need to let me take you back in time 1st lets go back to the end of the vietnam w ....
Negatives for the 1st time in history as demands dries up due to the global coated 19 pandemic on monday the price of crude oil fell to negative 37. 63 so anyone expecting a delivery would have actually been paid to accept it rather than paying to buy it to better understand this lets look at the most widely followed Oil Futures Contract in the United States west texas intermediate crude its june contracts fell over 40 percent with fewer people driving flying or shipping this combined with an excess in Global Oil Production has greatly contributed to the falling market just we have never seen anything like this and of course its a consequence of the pandemic which will eventually and still Oil Production production had already outpaced our need for it so ....
And this is al jazeera live from london also coming up over one hundred fifty people are injured as police try to disperse a religious protest in pakistan fear and distrust how some are henge refugees are reacting to a deal that could see them return to myanmar. And we return to cuba for the First Anniversary of the death of fidel castro and. We begin in egypt where prosecutors say gunmen who stormed a mosque in sinai were carrying and i saw a flag officially there is still no claim of responsibility but egypts military has already begun target saying with bombing targets part of a pledge by president Abdel Fattah Elsisi that those behind the attack would not go unpunished more than three hundred people now known to have died in the attack in bed the worst in egypts modern history hannah starr reports. Egyptian military has released this footage which it says shows it ....
How they are and this is the news out from london coming up pakistan calls in the army to restore calm after more than one hundred fifty people are injured in violence between the police and religious protests in. Egypt august suspected fighters off to the last attack in sinai that killed hundreds of people. And fear and distrust how some are handle refugees are reacting to a deal that could see them return. And support japans aura rads had been crowned the new champions and asia but yeah an east side being saudi arabia as our whole out to one on aggregate lift their second trophy. The army has been called in to restore order to the pakistani capital islamabad after more than one hundred fifty people were injured in violence between police and religious protesters earlier riot police fired tear gas and water cannon demonstrators while clearing vast sitting camp which has been blocking main routes into the city for over two weeks the protest is a calling for the resignation of a ministe ....