Oil plummets 30% as OPEC deal failure sparks price war
Oil prices plunged 30% in early trading Sunday night as OPEC’s failure to strike a deal with its allies regarding production cuts sparked fears of a price war as Saudi Arabia reportedly gets set to ramp up production.
International benchmark Brent crude futures plummeted 30% to $32.05 per barrel. U.S. West Texas Intermediate crude dropped 27% to $30.00 per barrel.
“This has turned into a…
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