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Oil Plunges Most Since 1991 After Producers Embark on Price War

Saudis, Russia plan to boost output; virus to curb consumption
IEA sees unprecedented combination of supply-and-demand shock

Bloomberg business news — WATCH: How could the oil-price war between Saudi Arabia and Russia impact U.S. shale producers?Source: Bloomberg

By

Alex Longley and

March 8, 2020, 10:08 PM UTCUpdated onMarch 9, 2020, 7:53 PM UTC

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Oil crashed the most in 29 years as Saudi Arabia and Russia vowed to pump more in a battle for market share just as the coronavirus spurs the first decline in demand since 2009.