Print this page
Monday, 09 March 2020 11:05

Oil Plunge is Leading the Charge Downward

Written by
Rate this item
(1 Vote)

(Houston)

Markets are plunging today, and the reason for the huge fall is the complete collapse of the oil market. The trouble is occurring because a price war is erupting in the oil market with Saudi Araba announcing that is was boosting production this morning. The move came as a response to Russia refusing to agree to production cuts to help insulate the market. The oil market responded by falling an eye-watering 30%. That immediately sent stocks plummeting too.


FINSUM: The market is doing its very best to compel Russia to agree to curb production. Surely a production cut wouldn’t cost them 30% of revenue!!

Read 1684 times
FINSUM

Latest from FINSUM

Related items

We use cookies to improve our website. By continuing to use this website, you are giving consent to cookies being used. More details…