section_path: Impact by sector/Energy
section_name: Energy
paragraph_text: Energy
  
  The demand shock to oil was so severe that the price of American oil futures contracts became negative (bottoming out at $-37.63 per barrel on the West Texas Intermediate), as traders started paying for buyers to take the product before storage capacity ran out. This was despite an earlier OPEC + deal which cut world production by 10% and ended the 2020 Russia–Saudi Arabia oil price war.