Oil in free fall as Saudi Arabia resorts to deep discounts

Crude futures fell in an unprecedented crash as Saudi Arabia fired the first shot in a price war to punish Russia for refusing to endorse an output cut rescue to prop up the oil market

Saudi Oil: Saudi Crown Prince Mohammed bin Salman.
Saudi Oil: Saudi Crown Prince Mohammed bin Salman.Photo: AFP/SCANPIX
Published 9 March 2020, 09:26Updated 9 March 2020, 17:10