On The Oil Crash of Spring, 2020: A Follow-Up Conversation with Tom Seng

Tom Seng is Director of the School of Energy at The University of Tulsa. In the fall of 2019, we interviewed Tom and discussed a number of topics. Among them: what’s the difference between energy independence and energy self-sufficiency, how much oil actually is actually physically exchanged when it’s traded, and what does the future of the oil industry in the US look like? READ NOW.

But, in the Spring of 2020, the oil market crashed like never before. It even closed in negative territory one day. So, 74&WEST’s Derek Burnett got on the phone for a follow-up conversation. Listen below to hear Tom discuss how it happened, why it happened, and what might lie ahead for oil. This conversation took place on April 23, 2020 and has been edited for length and clarity.

In late April of 2020, the unthinkable happened: oil closed in the red at around -37 dollars per barrel. To help make sense of how something could trade in negative territory, why it happened, and what the future might look like for oil, 74&WEST's Derek Burnett got back on the phone with Tom Seng for a quick follow up.

__________________________________