Embed Notice

This is how we decarbonize. It is simple. Stop buying fossil fuels asap.

Oil dropped to below $71 a barrel—nearly 4%—on Tuesday, erasing all its gains for the year. Driving the losses were concerns about weakening demand from China and a production increase from OPEC+nations.

West Texas Intermediate crude, the U.S. standard, was off 3.7%; Brent crude, the international benchmark, was down more than 4.5%.

Ten dollars less a barrel and over half of the oil producers in USA will go bankrupt.