Oil price plummets as Opec fails to agree production cuts
by Jillian Ambrose from on (#50BP3)
Summit in Vienna aimed to slash output to prevent crash as coronavirus hits demand
Global oil prices tumbled to lows not seen since mid-2017 on Friday after the Opec oil cartel failed to strike a deal to steady the market against the impact of the coronavirus by reining in production.
The collapse of talks between the world's largest oil producing nations has stoked investor fears that the coronavirus could trigger the most severe oil market shock in history by throttling demand from heavy industry and airlines.
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