Saudi Arabia announced today that it would ramp up oil production significantly, sending oil prices down by more than 20% - the biggest daily drop since 1991. This move comes after Russia decided not to participate in the OPEC production cuts to stabilise prices after the significant decline in recent weeks.
Assessing the oil shock
Assessing the oil shock
Assessing the oil shock
Saudi Arabia announced today that it would ramp up oil production significantly, sending oil prices down by more than 20% - the biggest daily drop since 1991. This move comes after Russia decided not to participate in the OPEC production cuts to stabilise prices after the significant decline in recent weeks.