1, there are three reasons for the negative oil price: first, the global crude oil storage is almost full, so there is a negative oil price without stopping production and no one consuming it. Second, the May contract of US oil futures is due for delivery on April 2 1, so this is the last selling opportunity for bulls, so panic selling leads to bad oil prices. The third is the result of American manipulation. Prior to this, the clearing house of the Chicago Mercantile Exchange in the United States had modified the software system on April 15, that is, it could trade even if there was zero or negative price.

2. In the world crude oil system, Saudi Arabia's crude oil cost is nearly $5 a barrel, Russia's is more than $ 10, and only the United States reaches $40 a barrel. Therefore, after the start of this round of oil war, only the United States lost money when crude oil remained at $20 per barrel for a long time.

3. In this regard, there is a risk of collective short positions in hundreds of billions of corporate bonds of American oil companies, so the negative oil price is essentially a test of Russian and Saudi operations. Of course, we can find that on April 20, except for May crude oil futures, other Brent crude oil contracts remained at around $20 per barrel. This abnormal performance just illustrates some problems.

4. So this negative oil price is caused by the sharp drop in world demand under the influence of the epidemic and the oil war between the United States, Russia and Saudi Arabia.