Oil Crashes 31% in Worst Loss Since 1991 After Price War Erupts
Oil markets crashed by more than 30% and since 1991 this is the most significant drop. The collapse of the OPEC alliance and, as a result, we have a price war between Saudi Arabia and Russia, which is likely to have wide political and economic consequences.
Brent futures oil suffered the second-largest decline in the first seconds of trading in Asia, everything was worse only during the Gulf War in 1991. Goldman Sachs Group Inc. warned prices could fall to almost $ 20 per barrel.