Camila Domonoske

Updated at 11:45 a.m. ET

The global oil industry is about to test just how much crude oil it can transport and store, according to an intergovernmental agency, as disappearing oil demand creates an unprecedented glut of crude oil.

The imbalance is keeping prices extraordinarily low. The price of West Texas Intermediate, a benchmark for American crude, has plunged to below $20 from around $60 per barrel at the start of the year.

Thai food and toilet paper. Fish and chips and flour. A bistro box ... of local produce.

With their sit-down dining rooms shut down, a growing number of restaurants are expanding into groceries as a source of much-needed cash in this crisis.

For customers, it's an opportunity to grab a few necessities without needing to brave a crowded store (or fight for a coveted grocery delivery slot). And while your local supermarket may be all out of flour, local restaurants probably have plenty.

Saudi Arabia and Russia reached an agreement with other oil-producing nations on Sunday to cut output by 9.7 million barrels per day for the next two months, in an effort to stem a plunge in oil prices brought on by the coronavirus pandemic and feuding between Moscow and Riyadh.

OPEC+, a group that includes OPEC members as well as allied non-members like Russia and Mexico, finalized the deal on Sunday after days of marathon negotiations.

Updated at 12:50 p.m.

Auto giant General Motors will build 30,000 medical ventilators for the national stockpile, at a cost of $489.4 million, the Department of Health and Human Services announced Wednesday.

The coronavirus pandemic has caused a global scramble for essential medical supplies like masks, gloves, gowns and ventilators. In the panic, governments have imposed or considered new barriers to trade, trying to protect their own access to scarce supplies.

Japanese car giants Nissan and Honda are furloughing thousands of workers as North American auto plants continue to be shuttered because of the coronavirus pandemic.

Honda has extended closures through the start of May, covering auto plants in Alabama, Indiana, Ohio, Canada and Mexico, as well as other plants assembling engines and ATVs.

Yeast, baking powder and spiral hams were big hits in America's shopping carts last week.

As the country settles in — possibly for the long haul — under stay-at-home orders, baking projects appear to be a common distraction, while panic purchasing of some products seems to be subsiding.

Sales are still up significantly compared to a normal week. And shelf-stable foods, meats, produce and snacks are all flying off shelves at unusual rates.

But for many products, the remarkable sales spikes from early March have started to subside.

Not all Americans can stay home during the pandemic.

Millions of essential workers are showing up for their jobs at warehouses, food processing plants, delivery trucks and grocery checkout lines. Work that is often low-paid, and comes with few protections, is now suddenly much more dangerous.

America has a new appreciation for these workers. Bill Osborn, a dairy clerk at a Giant in La Plata, Md., says he never used to be thanked for his job. Ever.

But now that has changed.

By the middle of March, the problem was undeniable: America didn't have enough ventilators for the coronavirus pandemic.

Over the next two weeks, U.S. manufacturers worked frantically to boost output in an effort that has been compared to the mobilization of industry during World War II. Medical companies paired up with automakers to increase their production to previously unthinkable levels.

Gas prices are dropping — to less than $1 per gallon in a few locations — but most Americans aren't supposed to go anywhere. That's the irony of the coronavirus lockdown.

The national average price for a gallon of gas is now $1.997, according to AAA, and it's expected to drop further in the next few weeks — to $1.75 or even lower.

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