the crude that went negative is WTI - which is essentially USA oil.What geopolitical implications are there now that Russia, Saudi, Iran, Venezuela and all the other petro-states can no longer maintain their budgets? There is no way they planned for crude to go negative (even if temporary, it shows how much of a glut there is and as long as this virus remains I don't see it reducing over the next few months at least!). I don't think any of these countries have a diverse enough revenue stream to compensate.
the OPEC oil is tied to another index called brent crude - which is at I thin about 25$ at 7:00 PM EST on april 20,2020
this is still very low for ME and russia.
this is absolutely devastating for US crude producers - but, US is not entirely dependent on crude oil extraction.
russia and ME are highly dependent on the price of oil!