Why is the oil industry in distress?

Why is the oil industry in distress?

Let’s begin with the figures. Since early March, the price of the two most famous benchmark crudes (WTI Crude and Brent Crude) suffered from a historical decline. On March 2, the WTI quoted $46.75 and the Brent Crude, on the same date, quoted $51.90. On the late of...