Oil prices plummet as Saudi Arabia wages price war with Russia
Fewed by - Momin Shahab
Global oil prices fell by a whopping 30% after Saudi Arabia ramped up oil production in order to fight a price war with Russia. This is happening due to the collapse of the OPEC agreement with Russia and the spread of the coronavirus. It is likely that the demand for oil globally will fall due to the coronavirus, although it is difficult to forecast in such a volatile situation.
oil-prices
science
environment
saudi-arabia
economy
oil
crash
pollution
price
market
sponge
oil-spill
fossil-fuel
coornavirus
Mon Mar 09
-
Reuters