Oil price has surely undergone a roller-coaster of fluctuations in the last month. In the past few days, however, it seems like it has more or less stabilized, with WTI recovering from its 22-year low to just below $20/barrel. Looking from the past, oil price tends to bounce back after a period of rapid drop, including the ~2001 dotcom bubble crash (c.40% drop), 2008-2009 financial crisis (c.75% drop), and the 2014-2016 period where OPEC flooded the market with excessive supply + rapid growth of shale production (c.75-80% drop).
Indeed, with Asian countries such as China