From the foreign news sites, they deem this move as an act of desperation to ensure that oil woes will not contribute to the economic problems.
If you are keen to invest in oil, there are many counters in all major markets. Personally I look at UWTI in US. Make sure you are able to hold the oil investment as I foresee more volatility ahead.
Click on the link for details.
https://research.uobkayhian.com/content_download.jsp?id=32513&h=b597976c3ce6012f3a07e9f5c71a3c8c
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