Skip to content
Subscriber Only

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
Updated on

Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.

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.