In a reflection of the nearly unprecedented global economic shutdown amid the coronavirus crisis, the benchmark U.S. oil price hit negative territory last month for the first time in history.
Cheaper oil, in itself, is good for Japan, the world’s third-biggest economy. But economists have said that with manufacturers continuing to curb production and the government still calling on people to telework despite the end of the state of emergency in most prefectures, the benefits of lower oil have been minimal.
Here's a closer look at the recent oil price plunge and its impact on the economy.