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OIL MARKET MADNESS: Here's how a crucial breakdown between Russia and other major producers caused the biggest plunge in 29 years and tanked stocks

Business Insider Monday, 9 March 2020
OIL MARKET MADNESS: Here's how a crucial breakdown between Russia and other major producers caused the biggest plunge in 29 years and tanked stocks· *A weekend of oil-market chaos has dragged US stocks near bear market territory and added new risks to the coronavirus-rattled economy.*
· *Tensions in the commodity market spiked on Friday after Russia declined to join OPEC in curbing oil production in the wake of weakened demand.*
· *Saudi Arabia fired back late...
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Video Credit: Reuters Studio - Published
News video: Oil prices plunge, world shares trampled

Oil prices plunge, world shares trampled 01:22

Oil fell by the most since 1991 on Monday after Saudi Arabia started a price war with Russia by slashing its selling prices and pledging to unleash its pent-up supply onto a market reeling from falling demand because of the coronavirus outbreak. Libby Hogan reports.

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