Oversupply leads to lowest oil price in 17 years

March 31, 2020

In Belgium, a tank of 50 liters of gasoline is €17,35 cheaper than on January 1st. An equal amount of diesel is €14,6 cheaper /Belga

With a price per barrel of $23,5, oil has reached its lowest price since November 2002. Because of the corona crisis, oil consumption has dropped 10 to 15%. Also, the dispute between Saudi-Arabia and Russia seems to have no end. This has led to an oversupply of oil on the market. Saudi Arabia indicated that

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