Making sense of historically low oil prices

Global demand for oil has collapsed because of the pandemic, because no one's going anywhere, and there's a shortage of space to store the excess supply. Apart from cheaper petrol at the pumps, what could the ramifications be? Bob McNally is the founder and president of The Rapidan Group, a leading energy consulting firm. From 2001 to 2003, he served as the top international and domestic energy adviser on the White House staff. He is also the author of 'Crude Volatility: The History and the Future of Boom-Bust Oil Prices'.