Skip to main content

Oil price nosedive to record low

By Syed Sajid Aziz, updating from USA
(Pakistan News & Features Services)

April 20, 2020 became historic day of sorts as the oil prices nosedived to the lowest-ever price in memory. It’s a forgettable day for the oil producing countries as the oil prices came crashing down to nearly $1 a barrel. 

Following the global slowdown due to coronavirus (COVID-19) there were speculations that oil prices will be dipping below $10 per barrel but, despite the shrinking demand, not many analysts could have predicted it going so low. 

There are reports coming out from Canada that a few oil blends have fallen into negative territory, meaning that the producers would have to pay to give their barrels away. 

It remained unclear at this point of time how long this oil crisis will continue leaving even the industry professionals amused by the turn of the events.
Labels:

Comments

Post a Comment

Popular posts from this blog

KDSP: Empowering Individuals with Down Syndrome in Karachi

The Karachi Down Syndrome Program (KDSP), a beacon of hope and support, is making significant strides in empowering individuals with Down syndrome in the city. Founded in March 2014 by a group of passionate parents and individuals, KDSP addresses the critical need for comprehensive resources and platforms for those with Down syndrome in Karachi. Bridging the Gap: A Mission of Advocacy and Inclusion KDSP operates as a non-profit organization with a clear mission: to advocate for the value, acceptance, and inclusion of individuals with Down syndrome. Recognizing the limited support and resources available locally, KDSP was established to provide a nurturing environment where individuals with Down syndrome can lead independent and fulfilling lives. A Lifelong Journey of Support Understanding the unique needs of individuals with Down syndrome and their families, KDSP offers unwavering support from the moment a family receives a diagnosis.  They embark on a journey with each family, pro...
Post a Comment
Read more

Akbar Ali Khan elected AMUOBA President, appointed SSUET Chancellor

  By Abdul Qadir Qureshi (Pakistan News & Features Services) Akbar Ali Khan, son of the distinguished Engr Zakir Ali Khan, has been elected as the President of the Aligarh Muslim University Old Boys Association (AMUOBA), thereby assuming the position of Chancellor at Sir Syed University of Engineering and Technology (SSUET). He succeeds Jawaid Anwar as the university’s fourth Chancellor. SSUET was established in 1993 under the leadership of its founding Chancellor, Engr Z A Nizami. Following his passing in 2013, the role was subsequently held by Engr Adil Usman and Jawaid Anwar. Akbar Ali Khan now takes over this prestigious position, continuing his family’s legacy of service to the institution. The AMUOBA elections, held after a decade, witnessed the Zakir Ali Khan Panel securing victory over the Alig United Panel with a margin of 158 to 130 votes. Following his election, Akbar Ali Khan chaired the first Executive Committee meeting of AMUOBA, during which key office bearers we...
Post a Comment
Read more

NLA, KPC and Rotary Darakhshan join hands to hold Women’s Day seminar

  By Abdul Qadir Qureshi   (Pakistan News & Features Services) A seminar ‘Role of Libraries in Women Empowerment’ is being organized by Literary Committee of the Karachi Press Club (KPC) with the collaboration of National Library Association (NLA) and Rotary Club of Karachi Darakhshan (RCKD) at the KPC Auditorium on March 26.  Syeda Shehla Raza, Deputy Speaker, Sindh Assembly, will be the keynote speaker while the seminar will also be addressed by Munazza Abidi, Senior Vice President, NLA, Farheen Mahmood, Vice President, NLA, Asma Hassan, motivational speaker and author, Dr Aftab Imam, District Governor, Rotary International, and Jahangir Moghul, Charter President, RCKD.  The session, to be held from 3 to 5 pm, will be moderated by A H Khanzada, former Secretary, currently heading the KPC’s Literary Committee, and he will be assisted by Syed Khalid Mahmood, Advisor, NLA, and President, RCKD.  The seminar is being held as a part of the International Women’s ...
Post a Comment
Read more