Oil suffers rout after Saudi Arabia fires first shot of price war

Oil suffers rout after Saudi Arabia fires first shot of price war
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11.03.2020

MOSCOW (MRC) -- Losing more than a quarter of their value, oil prices were set for their biggest daily rout since the first Gulf War, after Saudi Arabia cut its official prices in a market already reeling from the impact of the coronavirus on global demand, reported Reuters.Saudi Arabia slashed its official selling prices and made plans to ramp up crude output next month after Russia balk

Full article at mrcplast.com

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