The negative oil price has also highlighted the failure of Organization of the Petroleum Exporting Countries (OPEC+) and G20 to bring about the oil balance for supply and demand.

Until the lockdown is removed in most of the countries, the aeroplanes start to operate, the economy starts humming (not necessarily to the full capacity) and the demand reaches 93 to 95 % of the pre-pandemic period, oil prices will be controlled by COVID-19 driven market, and not by OPEC+ or President Trump, writes Dr. Bhamy V Shenoy.

The Saudi Kingdom calls upon the international community to assume its responsibility in condemning those that stand behind the drone attack on Saudi Arabian oil facilities

Qatar has played its diplomatic game adroitly through the Gulf crisis winning over the sympathies of most countries while keeping the doors open for justified mediation with Saudi Arabia and others.

The decision to withdraw from OPEC came after Qatar reviewed ways to enhance its role internationally and plan its long-term strategy, al-Kaabi told a news conference.

Taxes on oil provide for the state. Rise in global crude prices will have to be sat out.

The reasons why the Indian market soars despite the crude oil price rise