So, the May 2020 contract is down $6 to $12. But, the Dec 20 contract is down only $0.50 to $33.
There is too much supply for the storage capacity at the moment. But the market does not expect that to continue indefinitely. It's a situation called contango. If you could rent an old tanker and sit it in the gulf for a few months you could bank some serious coin.
1) Buy cheap spot oil
2) sell expensive forward oil
3) ...
4) profit!