Oil Prices Drop Below $2 Per Barrel.

A Bloomberg report revealed that industrial and economic activity is grinding to a halt as Oil prices have plunged further below $2 a barrel governments around the globe extend shutdowns due to the swift spread of the coronavirus.

Nigeria’s benchmark crude oil price collapsed below $1 on Monday, while the United States benchmark crude oil price collapsed to one cent a barrel amid an epic supply glut caused largely by the coronavirus pandemic’s hit to demand.