Dozens of oil tankers spotted off coast of Long Beach

LONG BEACH, Calif. (KABC) -- As the oil industry's future remains in question, AIR7 HD spotted dozens of oil tankers docked in the waters off the coast of Long Beach on Tuesday.

ABC7 is working to find out more on why and if it has anything to do with what's currently happening with oil prices.

Oil prices tanked below zero on Monday as demand for energy was collapsing amid the coronavirus pandemic, and traders don't want to get stuck owning crude with nowhere to store it.

Demand for oil has collapsed so much due to the coronavirus pandemic that facilities for storing crude are nearly full.