A stimulus agreement has finally been reached. The package would provide $2 trillion in funding, allocated directly to the White House’s plan which includes purchasing 77 million barrels of oil for the Strategic Petroleum Reserve and a $1,200 check for every American earning under $70,000 and a sweeping boost to unemployment benefits. This comes in the middle of a spectacular oil price crash , in which we’ve seen crude markets fall more in a single day than we have in the last 30 years. The crash itself can be traced back to the spread of coronavirus. The economy-stalling pandemic pushed the leaders of OPEC+, Saudi Arabia and Russia, to enter discussions on how to respond to plummeting oil demand. These talks did not go well, to say the least, and resulted in the implosion of the OPEC+ alliance earlier this month, which, in turn, set off an oil price […]