Video Interview: Implications of Negative WTI

On 20 April, a historic drop of oil prices occurred. WTI futures contract dove into negative territory for the first time ever.

April 27, 2020

Journal of Petroleum Technology

(LIVE) US Oil Price Crash: Implications of Negative WTI

On 20 April, a historic drop of oil prices occurred, as front-month Nymex West Texas Intermediate (WTI) futures contract dove into negative territory for the first time ever. The May WTI contract settled at a record low, falling by $55.90 to -$37.63/bbl. May WTI established a low of -$40.32/bbl before the settlement.

JPT Digital Editor Trent Jacobs interviewed Rystad Energy Senior Oil Analyst Christopher Page on 22 April to discuss the implications of this event.

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Topics

Business/economics

Tags

COVID-19, oil prices

Trent Jacobs

Trent Jacobs has been a journalist and communications specialist for 15 years, most of which have been spent covering the upstream oil and gas industry. He reports from his hometown of Houston and highlights new trends from the SPE’s largest technical conferences in North America, Europe, Middle East, and Asia. Areas of special focus include emerging technologies, advancements in reservoir engineering, and the energy transition. He can be reached at tjacobs@spe.org.

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