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Saudi Arabia Trigger 'The War' Production, Oil Prices Plunge More Than 20%

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Berita Terkini
Saudi Arabia Trigger 'The War' Production, Oil Prices Plunge More Than 20%

the Price of oil raw the world free fall to the lowest level after saudi Arabia cut selling prices as well as plans to boost oil production significantly. The move by saudi Arabia marks the start of the war the price of crude oil globally.

related to the data Bloomberg at 08.00 PM on Monday (9/3), the price of oil Brent for the contract in May 2020 dropped 20,52% to US$ 35,97 per barrel. While the price of West Texas Intermediate (WTI) contract for April 2020 tumbled 20,49%% to US$ 32,82 per barrel.

saudi Arabia took a number of steps after Russia on Friday (6/3) strongly reject the proposal of production cuts by the Organization of Petroleum Exporting Countries (OPEC). Whereas, the plan claimed as the efforts of OPEC to  stabilize oil prices in the middle of the threat of the downfall of the economic state of the world due to the spread of corona virus.

this Article has been published in https://katadata.co.id/ with the title "Arab Saudi Picu 'Perang' Produksi, Harga Minyak Terjun Bebas Lebih 20%" ,https://katadata.co.id/berita/2020/03/09/arab-saudi-picu-perang-produksi-harga-minyak-terjun-bebas-lebih-20
Author: Agatha Olivia Victoria
Editor: Ekarina

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