Canadian oil price surge to negative as demand cross low level across Canada. Jason kenney request federal government to support oil and gas industry as situation going out of hands.
Oil traders start paying to buyer if they buy free oil from them as storage capacity is finish with traders in Canada. Oil price fall first time in history as low as 40 percent and largest drop in 24 hours. Texas and North America oil fell to 10.77 USD a barrel on monday.
In reports Alberta based oil traders selling oil on minus 4.68 USD per barrel. The situation come after OPEC Russia and Saudia start drop oil production but demand for oil is nearly zero. The working from home and flights operations added to this situation a new face where oil is selling at negative price. The storage facility in most of traders is full.