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And joining us this morning this is r. T. Internet. Prices have suffered the biggest collapse in 30 years before rebounding slightly as saudi arabia stepped up its price war or prices plunged up to 30 percent on what has been dubbed black monday thats the biggest single day for since the 1st iraq war is sparked by a spat between top suppliers riyadh and moscow who couldnt agree on a deal on production opec proposed output cuts in response to falling demand due to coronavirus concerns but moscow disagreed noting that that would simply give an unfair advantage to u. S. Crude producers russia insists that it wont give up its all firms benefits. The Russian Oil Industry has a high quality Resource Base and a sufficient margin of financial strength to remain competitive fight any predicted price level as well as maintain its market share for russias interests this deal is simply illogical we giving up our own markets remove cheap arab and russian oil to make way for expensive american shell

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