Collapse of crude oil prices

[Barnabe]

Due to the epidemic the prices of everything in general have come down. When the epidemic is back under control everything will be the same again Prices will go up and demand will go up. This problem has arisen not only in the case of oil but also in the case of economic disruption The mines are not working properly.

Not everything. Price of food went up. People cooked and eat more since were at home. I am sure some other things needed for staying at home went up. Prices of clothes and shoes decreased. You use shoes only when walk outside.

Price of food probably increased because of the restrictions and lower imports/exports. The demand didn't change, people will eat approximately the same quantity if they are at home or in the restaurant.

you got it right . thats the main reason why food price skyrocket but the demand got lowered because people are budgeting because some jobs havent resumed yet  . most people only ate 2 times a day but some unfortunate people are happy if they can eat once a day.  on most part of our country , they are now starting to resume . transportation are getting lively now so i expect that price of crude oil will now rise   .  fare for transportation did increased too because they limit the required passenger just to follow social distancing

Yeah, I was only considering Occidental countries. Most people here didn't change their food consumption, but I didn't think of other countries with smaller social security nets.

[abhiseshakana]

thats the main reason why food price skyrocket but the demand got lowered because people are budgeting because some jobs havent resumed yet  . most people only ate 2 times a day but some unfortunate people are happy if they can eat once a day.  on most part of our country , they are now starting to resume . transportation are getting lively now so i expect that price of crude oil will now rise   .  fare for transportation did increased too because they limit the required passenger just to follow social distancing

Or there can also be surprises from China for alternative renewable and inexpensive energy sources, namely the use of lithium batteries. Some news circulating that the CATL company is ready to accept orders for lithium-ion batteries with new power can hold up to 2 million kilometers or 5 times the power of the strongest lithium batteries now, or equivalent to the use of about 20 years (it assumed used 400 km per day). Will China plan to shift the world pendulum which relies on fossil energy (America) to China as a new renewable energy hegemon.

http://www.cleanfuture.co.in/2020/06/10/catl-produce-battery-2-million-kms/

[Barnabe]

thats the main reason why food price skyrocket but the demand got lowered because people are budgeting because some jobs havent resumed yet  . most people only ate 2 times a day but some unfortunate people are happy if they can eat once a day.  on most part of our country , they are now starting to resume . transportation are getting lively now so i expect that price of crude oil will now rise   .  fare for transportation did increased too because they limit the required passenger just to follow social distancing

Or there can also be surprises from China for alternative renewable and inexpensive energy sources, namely the use of lithium batteries. Some news circulating that the CATL company is ready to accept orders for lithium-ion batteries with new power can hold up to 2 million kilometers or 5 times the power of the strongest lithium batteries now, or equivalent to the use of about 20 years (it assumed used 400 km per day). Will China plan to shift the world pendulum which relies on fossil energy (America) to China as a new renewable energy hegemon.

http://www.cleanfuture.co.in/2020/06/10/catl-produce-battery-2-million-kms/

Another news about miracle batteries ...
Battery technology has been evolving steadily for the last 20 years, but by only reading headlines concerning batteries we could think space travel could be fully powered by batteries by now 

[PavelMed]

Economic collapse is always bad. Even if this does not happen in your country, a chain reaction occurs. Humanity can overcome the crisis only if it joins forces. But the oil situation has shown that this will not happen.

[abhiseshakana]

Another news about miracle batteries ...
Battery technology has been evolving steadily for the last 20 years, but by only reading headlines concerning batteries we could think space travel could be fully powered by batteries by now 

Maybe in other countries, the battery is considered a mere figment. But the people in my country witnessed until now how China has influenced the policies of officials in my country so that China can hegemony the raw material for batteries in Indonesia. 29 of the 32 nickel smelters in Indonesia are owned by China. The government prohibits miners from exporting raw nickel, so it must be sold to Chinese smelters at lower prices.

In addition, there is also the practice of smelters that were built in Indonesia not to finish the product but only to the cleaning process (NPI-nickel pig iron). In the process that is discarded is the element that has no economic value but the iron, nickel, lithium, and mineral minerals are rarely contained and what is paid in the NPI product is only the nickel content, while the other elements are a bonus.

Technology is moving so fast that even though the progress made by China is only forgetting the repetition of research that has been going on for twenty years, the term excellence is nothing but repetition. Who knows in a few years China or other countries have created portable batteries that can be a source of rocket energy.

[Barnabe]

previously, the collapsing on crude oil is very useful when coronavirus attacked because at that time many front liners are needed to have more crude oil to stock for an emergency. Because the oil price is still having an unpredicted cycle so we couldn't expect the regular price increase or decrease' that's why at that time many traders are buying while at low prices to sell it. And waiting for when the price up to the highest demand. And actually, through this situation many poor countries are grateful for the decline.

Many of these poor countries also sell oil, so if you average the slight increase of quality life for the importer with the catastrophic consequences for the exporters,I don't know it's a good situation...