Oil futures fell more than 21.3% to 2016 levels, while Saudi Arabia lowered the official price for selling crude oil, and by that the bone-breaking war between the Kingdom of Saudi Arabia and Russia began after the failure in OPEC talks to reach an agreement on production cuts
Last week, the Russian authorities rejected any measure that would work to reduce production to maintain prices that were affected by the economic earthquake caused by the Corona virus. OPEC then decided to cancel the restrictions imposed on oil production, and the prices of the standard BRENT futures fell $ 9.57, or 21.3%. To 32.70 dollars a barrel hours after the opening of the markets today, and the price of American West Texas Intermediate crude fell 9.10 dollars, or 20.9%, to 33.70 dollars.
