The Interview

'This may be a black April for the oil market,' IEA chief tells FRANCE 24

THE INTERVIEW
THE INTERVIEW © FRANCE 24

As oil prices hit record lows, FRANCE 24 spoke to Fatih Birol, executive director of the International Energy Agency (IEA). Amid the coronavirus crisis, demand for oil has slumped and oversupply has led to massive storage issues. The price of US oil plunged below zero for the first time ever on Monday while the price of UK oil fell to an 18-year low on Tuesday. Birol warned of a "black April" for the oil market but expressed hope for a recovery in demand from June as lockdown measures are eased.