To clarify, this is referring to the price point of which crude oil producers contract to refineries at. The initial issue was that, due to the extremely reduced travel worldwide, not as much oil is being refined. Since it isn't being refined, a surplus built until refineries could no longer store any more. Now the margin requirements have changed, and if oil prices drop below $10 it will trigger a drop all over again. Markets have all-but-abandoned June contracts due to close to/actual zero dollar prices and rolled them over into July contracts.
Wouldn't be an issue if we weren't so reliant on non-renewable energy but oh well, what can you do? /s