Brent Crude Falls to 17-Year Low

The video discusses the factors leading to a decrease in oil prices, highlighting the lack of supply cuts from Saudi Arabia and Russia, and the resilient supply from the United States. It also addresses the global drop in demand due to the coronavirus, which has significantly reduced driving and flying activities. The impact of these factors on Sinopec's profits is examined, showing a substantial decline due to decreased gasoline demand and overall consumption in China.

What was the impact of resilient supply from the United States on the oil market?

In what ways did the demand drop around the world affect oil prices?