SAUDI ARABIA, RUSSIA RAISE STAKES
- Mar 10, 2020
- 1 min read
DUBAI/MOSCOW (Reuters) - Saudi Arabia said on Tuesday it would boost its oil supplies to a record high in April, raising the stakes in a standoff with Russia and effectively rebuffing Moscow’s suggestion for new talks.
The clash of oil titans Saudi Arabia and Russia sparked a 25% slump in crude prices on Monday, triggering panic selling on Wall Street and other equity markets that have already been badly hit by the impact of the coronavirus outbreak.
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