oil prices

The pandemic is adding renewed urgency to a critical debate: Just how quickly can the planet reduce its dependence on oil?

For the first time ever, a key oil benchmark, West Texas Intermediate, fell below zero on Monday. That means some traders, instead of paying money to buy oil, are paying to get rid of it.

Oil prices dropped as much as 30% following the unexpected Saudi decision to cut prices and boost production. The move reflects the uncertainty surrounding the coronavirus and its economic effects.