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By : Oneindia Video Team
Published : March 09, 2020, 01:30
Duration : 01:24

Crude oil prices plunge as Saudi Arabia starts price war

Crude oil prices fell 30%, the most since 1991, after Saudi Arabia started a price war with one time ally Russia. Saudi Arabia triggered the all-out price war after the OPEC deal collapsed. Russia refused to cut oil output even as demand slumped amid the Coronavirus pandemic. Why is Russia refusing to cut production?
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