The price of oil is plummeting by 30 per cent

It was a Friday night, as negotiations between the OPEC countries and Russia, took it's a different story. The negotiations with a view to reducing production

The price of oil is plummeting by 30 per cent

It was a Friday night, as negotiations between the OPEC countries and Russia, took it's a different story. The negotiations with a view to reducing production in an effort to meet the decreased demand for oil due to the coronavirusets spread all over the world.

However, Russia refused to go along with the agreement, and the trade is closed for the weekend.

on Saturday, said saudi Arabia, that would bring down the price of oil by 10 per cent.
the Experts: it Can lead to a price war
some Experts believe, now, that the trend may be the beginning of a price war, which could have disastrous consequences for, among other things, Russia oljeallierade, Venezuela, china, Iran, and american oil companies, writes the New York Times.

When the trade was opened again for a Sunday night, australian time, the collapsed oil price. The north sea oil slumped more than 30 per cent-to 32,05 dollars a barrel.

a number of stock markets in Asia fall sharply due to fears of the coronavirus, and the falling price of oil. In Tokyo, fell to the Topexindexet than five per cent of the förmiddagshandeln, writes news agency TT.

the Hang seng index in Hong kong was down 3.8 per cent at the time of opening.

READ MORE: the Experts: how should you do with your stock. READ MORE: , the Prices continue to fall – a reduction of 15 cents today

Updated Date: 09 March 2020, 04:00

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